Indian Rupee Climbs as Trade Deficit Narrows to 15-Month Low
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Indian exports fell for the third time in four months in June, while a trade deficit that has pressured the rupee was the narrowest in more than a year as imports slid, government figures showed. The currency rose.
Merchandise shipments fell 5.45 percent from a year earlier to $25.06 billion, Director General of Foreign Trade Anup Pujari said at a briefing in New Delhi today. Imports slipped 13.46 percent to $35.3 billion, leaving a trade deficit of $10.3 billion, he said. The data are provisional.