# Moody's gives Modi a boost by raising India's sovereign rating

> Moody's upgraded India's sovereign credit rating to Baa2 with a stable outlook, its first upgrade in 13 years. The rupee closed at 65.02 per dollar, and the 10-year bond yield fell as the main stock index gained.

- Date: 2017-11-17 · published 2017-11-17T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/68259-moody-s-gives-modi-a-boost-by-raising-india-s-sovereign-rating
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

A sovereign upgrade improves foreign capital inflows and supports the rupee, which can lower India's import costs for oilseeds and vegetable oils.

## Read by commodity

- USDINR: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/article/world/moodys-gives-modi-a-boost-by-raising-indias-sovereign-rating-idUSKBN1DH08A/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.