 "India current account records surplus in three months to end-June")
India's current account balance moved into a surplus in the April-June quarter mainly because of a contraction in the trade deficit, the Reserve Bank of India said in a release on Thursday.
The current account surplus stood at $6.5 billion compared to a surplus of $19.1 billion in the same quarter a year ago. In the preceding January-March quarter the current account was in a deficit of $8.1 billion.
The surplus stood at 0.9% of the gross domestic product in the latest quarter, RBI data showed.
The balance of payments showed a surplus of $31.9 billion in the first quarter of the financial year 2021/22, compared with a surplus of $19.8 billion a year earlier.
(Reporting by Swati Bhat; editing by Barbara Lewis)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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