Currency Note Worldwide

Drop in Indian trade deficit

By Ricky Bean October 16th, 2015

There was a significant drop in India’s trade deficit yesterday as figures displayed a $2 billion improvement between August and September. The figures are slightly misleading as the deficit has been reduced due to a drop in imports of oil and gold. Regardless, the rupee advanced for the second day in a row as speculation over the US interest hike suggests that it is still some time away. This led to the rupee gaining 0.3% on the dollar yesterday, contributing to an overall growth of 1.2% this month alone.

Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.