CAD

The rupee closed FY23 at 82.18 to a dollar, against 75.79 a year ago

Non-resident deposits recorded net inflows of $2.6 billion in the third quarter of the current fiscal as compared to net inflows of $1.3 billion in the year-ago period

CAD may be better than expected in FY23, but India won't be completely out of the woods next year, says official

In the September quarter, CAD touched a nine-year high at 4.4 per cent from 2.2 per cent in the June quarter as the negative net exports shot up to $50.3 billion from $36.3 billion

This could be owing to cheaper crude oil, resilient net services exports and buoyant inward remittances

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Net exports of services rose 35% to $34.5 billion in the second quarter of the current fiscal

Renewed overseas flows to provide support

Balance of Payments position sees depletion of $30.4 billion, says central bank

Indian currency underperforms EM peers; analysts cite shrinking forward premia, widening CAD

State Bank of India has pencilled in lower current account deficit at 3 per cent for this fiscal as against the minimum consensus of 3.5 per cent, citing rising software exports, remittances and a likely USD 5-billion jump in forex reserves via swap deals. Every USD 10 increase in crude prices impacts the Current Account Deficit (CAD) to the tune of 40 basis points while the same on fuel inflation is 50 bps and also results in 23 bps decline in growth, according to Soumyakanti Ghosh, the chief economic advisor at SBI. CAD has a counter cyclical shock absorber, he said in a report on Thursday. Exchange rate is the major contributor to software exports growth and 40 per cent of its variation is explained by exchange rates. "If we translated these numbers in actual terms, every Re 1 fall against the dollar leads to an increase in software exports by USD 250 million". This, along with an expected USD 5 billion-forex reserve accrual by way of swap transactions and higher remittances, wi

Is India's external account becoming vulnerable?

Rising global commodity prices have widened India's current account deficit to 2.8% of GDP in Q1. But RBI Governor says, forex reserves compared favourably with most peer economies. Here's more

Services exports, remittances show firm momentum in Q1

The current account deficit may have widened to 3.4% of the gross domestic product in the first quarter against a surplus of 0.9% a year ago

RBI asked for mkt views on BoP, impact of 75-bps rate hike by US Fed

India's CAD stood at 1.5% of GDP in the March quarter of FY22 compared to a CAD of 2.6% of GDP in the preceding quarter of FY22

India's economy is predicted to overtake that of the US by 2048, said Patra

MPC will be guided more by domestic inflation-growth dynamics than US central bank measures, they say

RBI needs to be fourth buyer in the bond market, says senior executive

The rupee settled at 79.99 per dollar on Wednesday - a fresh closing low for the Indian unit versus the greenback