Indian Rupee Hits 3-day Low Against U.S. Dollar

The Indian rupee opened lower against the U.S. dollar on Friday as sentiment faded in global markets after disappointing China trade data for July.

Also, the manufacturing-led slump in India's industrial output has clouded the domestic economic outlook.

The rupee fell to 55.4555 per dollar, its lowest since August 7. On the downside, the rupee may target 55.6 level. At Thursday's close, the rupee-greenback pair was worth 55.275.