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Rupee trades weaker for third session as trade deficit widens
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New Delhi, April 16 -- The rupee weakened against the US dollar today after India's trade deficit widened in March from a month ago due to higher oil prices.
At 9.15am, the rupee was trading at 69.53 a dollar, down 0.16% from its previous close of 69.42. The home currency opened at 69.43 a dollar.
The 10-year bond yield was trading at 7.38%, down from its Monday's close of 7.39%. Bond yields and prices move in opposite directions.
India's trade deficit in March was at $10.89 billion from $9.6 billion in February. The deficit is wider than the $9.7 billion median estimate in a Bloomberg survey of 24 economists. Oil imports rose 5.6% year-on-year to $11.8 billion in March from $9.38 billion in the previous month.
Exports rose 11% from a...
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