<div>The rupee was trading at 61.55/56 after hitting 61.52 at open, its highest since 12 December and below its close of 61.89/90 on 10 January.<br /><br />India's economic woes worsened on 10 January with a surprise contraction in industrial production and a wider trade deficit, adding to troubles of the ruling alliance as it heads into a tough national election seeking a third term.<br /><br />The US dollar nursed broad losses early on 13 January after surprisingly soft employment data raised doubts about how quickly the Federal Reserve can scale back stimulus.<br /><br />The consumer price inflation data due to be released at 5:30 p.m. will be crucial for further near-term direction.<br /><br />Gains in the domestic share market also aiding sentiment for the rupee.<br /><br />The Sensex is trading up 1.3 per cent as of 9.44 a.m.<br /><br />(Reuters)</div>
