According to the latest data, India’s trade deficit increased to $19.6 billion in the month of October, the highest growth in the last 17 years.

Commerce Secretary Rahul Khullar said that the county’s exports rose 10.8 percent to $19.9 billion last month compared to the same period last year and Imports gained 21.7 percent to $39.5 billion, resulting in a trade deficit of $19.6 billion.

The trade gap widened as the shipments grew at its slowest rate in two years due to falling demand for engineering and petroleum products in European markets, according to Khullar. Exoerts believe that the gap may widen further due to the high prices of crude oil imports.

The weak figures put pressure on the India currency, Rupee that fell 0.6 percent to 49.79 against the dollar. The yield on the 7.80 percent government bond due April 2021 rose seven basis points, or 0.07 percentage point, to 9.10 percent. According to the country’s central bank, the Reserve bank of India, the weakening rupee puts pressure on inflation, which is already skyrocketing in the country in recent months.

The benchmark Sensex index of the Bombay Stock Exchange rose 0.1 percent.