MUMBAI, May 12 (Reuters) - The Indian rupee The partially convertible rupee closed at 49.26/28 per dollar, 0.50 percent stronger than Monday's close of 49.52/53. In early trade, the rupee dropped to 49.70, its weakest since May 6. "After the bad industrial output data and prevailing uncertainty about election results, there was no reason for the rupee to rally, except trackin   read more »