Trade deficit at 30-month low as bullion, oil imports fall

A third successive month of double-digit export growth along with a sharp compression in imports saw the trade deficit narrow to a 30-month record in September, raising hopes that the worst of the current account deficit and rupee weakness are behind India. Stock indices rallied sharply after the data release while the rupee erased part of its intra-day losses to close marginally weaker against the dollar. 

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