The Indian rupee gained today as India’s trade balance deficit narrowed last month, damping the exchange rate volatility and making the nation’s economy more attractive for investors.
India’s exports rose 3.8 percent and imports fell 18 percent in January. As a result, the trade gap shrank from $10.1 billion in December to $9.92 billion last month. Tomorrow’s reports about inflation and industrial production are also expected to be positive.
USD/INR was down from 62.32 to 62.15 as of 12:55 GMT today.
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