Forex Market News

The Indian Rupee Appreciated

The Indian rupee appreciated marginally in yesterday’s trading session. Reason behind this strength could be attributed to the encouraging macro economic data release from the nation that boosted the market sentiments. India’s inflation rate plunged to 3.41 percent in December 16 from previous month’s 3.63 percent.
India’s exports rose by 5.72 percent to $23.9 billion in December-16 whereas imports grew by 0.46 per cent to $34.25 billion during the month under review, leaving a trade deficit of $10.36 billion as against $11.5 billion in December 2015.
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