A square loop of side 12 cm with its sides parallel to X and Y axes is moved with a velocity of `8 cm s^-1` in the positive x-direction in an environment containing a magnetic field in the positive z-direction. The field is neither uniform in space nor constant in time. It has a gradient of `10^-3T cm^-1`along the negative x-direction (that is it increases by `10^-3T cm^-1` as one moves in the negative x-direction), and it is decreasing in time at the rate of `10^-3T cm^-1`. Determine the direction and magnitude of the induced current in the loop if its resistance is `4.50 mOmega` .