You are here: Home » Economy & Policy » News
Business Standard

July-Sept current account deficit at 4-year high on rising oil prices: RBI

India's trade deficit in July-September widened to $50 billion from $32.5 billion a year ago

Reuters  |  Mumbai 

High oil prices pushed India's current account deficit in July-September to its widest in over four years, according to data released by the central bank on Friday. However, the current account deficit is likely to fall due to a sharp drop in crude prices that will take pressure off a depreciating rupee, analysts said. "The current account deficit has peaked," said Shubhada Rao, chief economist at Yes Bank in Mumbai. The Indian rupee fell 14 per cent in the first nine months of 2018 but has recovered by 5.6 per cent since October on the back of the drop in oil ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Fri, December 07 2018. 20:52 IST
RECOMMENDED FOR YOU