Investors raising concern about weak December IIP data which is at 1.8% against 5.9% in November.
The rupee sentiment was weighed by strong dollar and negative trend seen in domestic stock market. Dollar gained against euro and other major currencies.
The Indian rupee opened at 49.56 per dollar versus 49.50 yesterday. At 11.50 am IST the rupee was seen trading at 49.62 down by 12 paise.
Meanwhile, the BSE was seen trading lower at 17753.35 down by 77.40 points or 0.43% and the 50-share NSE was at 5384.65 down by 27.70 points or 0.51%.