The Indian eased from a 1-week high against the US during Friday's early session. The rupee thus fell from 50.07 to 50.48 by about 11:50 pm ET. If the Indian currency slides further, 51.1 is seen as the next likely target level. The pair closed Thursday's deals at 50.42.

India's economy would grow 6.5% to 7% in the current fiscal, said Prime Minister Manmohan Singh, reported the PTI. The prime minister added that there was no danger that the country falling into deflation.

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