Rupee gains after strong industrial output data

The rupee rose to 54.18/19 against the dollar after data showed that industrial output jumped 8.2 per cent in October, well above Reuters' forecast for a 4.5 per cent rise. The pair was trading at around 54.24/25 before the data.

Other markets showed more muted reaction, given that output data is known for its volatility. Investors are also waiting to see the monthly inflation data due on Friday.

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