Rupee trims gains after output falls unexpectedly

The rupee trimmed gains today after industrial output in June unexpectedly fell, while bond yields fell and stocks pared some of their gains.

The rupee trimmed gains on Thursday after industrial output in June unexpectedly fell, while bond yields fell and stocks pared some of their gains.

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India said earlier India's factory output contracted 1.8% in June from a year ago, missing expectations for 1% growth.

The rupee was last trading at 55.15 per dollar compared to around 55.08 before the data, though that was still stronger than its 55.42/43 close against the dollar on Wednesday.

The benchmark 10-year bond yield fell about 2 basis points to 8.11% from levels before the data, while stocks trimmed some of their earlier gains, with the BSE index last up 0.2%.