Indian Bonds Gain, Rupee Drops as Data Shows Factory Output Fell

Dec. 12 (Bloomberg) -- India’s bonds gained and rupee extended declines as government data showed factory output shrank for the first time in more than two years.

The yield on the 8.79 percent note due November 2021 was 8.51 percent as of 11:09 a.m. in Mumbai, compared with 8.53 percent earlier, according to the central bank’s trading system. The rate was 8.54 percent on Dec. 9.

The rupee weakened 0.7 percent to 52.41 per dollar, according to data compiled by Bloomberg.

To contact the editor responsible for this story: V Ramakrishnan at rvenkatarama@bloomberg.net