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Corrected: India's July-September current account gap hits four-year high on oil price rise


(Corrects to July-Sept (instead of Q3))By Suvashree ChoudhuryMUMBAI (Reuters) - 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 percent in the first nine months of 2018 but has recovered by 5.6 percent ...

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First Published: Fri, December 07 2018. 20:44 IST