For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Trade deficit for Sept surprisingly lower at $6.7 billion

|
 Trade deficit for Sept surprisingly lower at $6.7 billion
Trade deficit for the month of Sept has come in at a surprisingly lower level of $6.7 billion, thanks to gaining exports and falling imports.
 

The rupee which was trading lower sharply lower beyond the 62 levels, recouped losses and was last trading at 61.95 to the dollar.

The September imports were down 18.1 per cent year on year at $34.4 billion, thanks to the sharp fall in gold imports.

In fact, gold and silver imports were just $0.8 billion for Sept, as against $4.6 billion, year on year. Exports on the other hand gained.

Today's trade data is positive, given that it would help improve the current account deficit. The rupee had hit a lifetime high of 68.81 against the dollar, after the current account deficit worsened.

However, today's trade data was encouraging and is likely to help the current account deficit and the Indian rupee higher.

GoodReturns.in

Story first published: Wednesday, October 9, 2013, 11:59 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more