Key Points
India's current account deficit declined to US$ 18.2 billion, or 2.2 per cent of GDP, in the third quarter of the ongoing fiscal on account of the narrowing merchandise trade deficit in Q2FY 23, coupled with robust services and private transfer receipts, RBI data showed on Friday...
Indias CAD rose to 2.7 per cent of GDP during April-Dececmber 2022 from 1.1 per cent in April-December 2021, on account of a sharp increase in the merchandise trade deficit...
Economists are lowering their forecasts for Indias current-account shortfall, thanks to favorable trade trends that are proving to be a blessing for the rupee currently among the worst performers in emerging Asia...
The lower prints will provide a tailwind to the rupee, which is vulnerable to a selloff, given the twin deficits in the nations budget and current account make it more reliant on foreign inflows..
We are encouraged by the fact that the narrowing of the trade deficit has sustained and services exports remain strong, said Ashish Agrawal, head of foreign-exchange and emerging-market macro strategy research at Barclays in Singapore..
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