Current Account Surplus

Reserve Bank of India said the current account balance swung into the surplus territory on the back of a sharp contraction in the trade deficit to $ 102.2 billion from $157.5 billion in 2019-20.

The surplus stood at 2.4 per cent of the gross domestic product in the latest quarter, compared with a deficit of $7.6 billion, or 1.1 per cent of GDP, in the same period a year ago,

India's current account surplus rose to a record $19.8 billion in April-June as its trade deficit narrowed sharply, the Reserve Bank of India said earlier.

The country's current account surplus rose to $19.8 billion - or 3.9 per cent of GDP - in the quarter ended June 30, RBI data showed.

The surplus stood at 3.9 per cent of gross domestic product (GDP) in the latest quarter, compared with a deficit of $15 billion or 2.1 per cent in the same period a year ago, RBI data showed.

The country's current account surplus rose to $19.8 billion in the June quarter as merchandise imports declined amid the COVID-19 pandemic.

Lower trade deficit was one of the prime reasons for the improvement in the current account balances both for the March quarter as well as for the whole fiscal year.

The rupee may strengthen to 75 per dollar by the end of December, an advance of about 1 per cent from Friday's close of 75.6475, according to a Bloomberg survey.

India unexpectedly posted a slight current account deficit in the April-June quarter, contrasting with expectations it would post the first surplus in nine years, as citizens abroad sent fewer remittances home.

The country's current account is likely to be in surplus in the first quarter of this financial year, says a Citigroup report.

India is likely to post its first current account surplus in nine years in the latest quarter, which should bolster the rupee though it is not a good sign for the economy as it reflects weak investment demand at home and subdued exports, analysts said.

Japanese brokerage Nomura on Friday said the country is likely to post first quarterly current account surplus in nine years in the June quarter at $4 billion or 0.8 per cent of the GDP.

India's current account deficit in the January-March quarter narrowed to $300 million, or 0.1 percent of gross domestic product, from $7.1 billion, or 1.3 percent of GDP in the previous quarter, the central bank said on Thursday.

The flight from risk also played out in forex markets with investors favouring currencies from economies with large current account surpluses such as Japan and the euro zone.

India's current account deficit is likely to swing to a surplus in the January-March period of this year amid lower oil and gold imports, says a report by Japanese financial services major Nomura.

Reserve Bank of India said the current account balance swung into the surplus territory on the back of a sharp contraction in the trade deficit to $ 102.2 billion from $157.5 billion in 2019-20.

The surplus stood at 2.4 per cent of the gross domestic product in the latest quarter, compared with a deficit of $7.6 billion, or 1.1 per cent of GDP, in the same period a year ago,

India's current account surplus rose to a record $19.8 billion in April-June as its trade deficit narrowed sharply, the Reserve Bank of India said earlier.

The country's current account surplus rose to $19.8 billion - or 3.9 per cent of GDP - in the quarter ended June 30, RBI data showed.

The surplus stood at 3.9 per cent of gross domestic product (GDP) in the latest quarter, compared with a deficit of $15 billion or 2.1 per cent in the same period a year ago, RBI data showed.

The country's current account surplus rose to $19.8 billion in the June quarter as merchandise imports declined amid the COVID-19 pandemic.

Lower trade deficit was one of the prime reasons for the improvement in the current account balances both for the March quarter as well as for the whole fiscal year.

The rupee may strengthen to 75 per dollar by the end of December, an advance of about 1 per cent from Friday's close of 75.6475, according to a Bloomberg survey.

India unexpectedly posted a slight current account deficit in the April-June quarter, contrasting with expectations it would post the first surplus in nine years, as citizens abroad sent fewer remittances home.

The country's current account is likely to be in surplus in the first quarter of this financial year, says a Citigroup report.

India is likely to post its first current account surplus in nine years in the latest quarter, which should bolster the rupee though it is not a good sign for the economy as it reflects weak investment demand at home and subdued exports, analysts said.

Japanese brokerage Nomura on Friday said the country is likely to post first quarterly current account surplus in nine years in the June quarter at $4 billion or 0.8 per cent of the GDP.

India's current account deficit in the January-March quarter narrowed to $300 million, or 0.1 percent of gross domestic product, from $7.1 billion, or 1.3 percent of GDP in the previous quarter, the central bank said on Thursday.

The flight from risk also played out in forex markets with investors favouring currencies from economies with large current account surpluses such as Japan and the euro zone.

India's current account deficit is likely to swing to a surplus in the January-March period of this year amid lower oil and gold imports, says a report by Japanese financial services major Nomura.