Current Account-deficit

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Current Account-deficit - Total results - 222
Rupee to stabilise on its own, finance ministry official says currency depreciation not due to domestic factors
Business

Rupee to stabilise on its own, finance ministry official says currency depreciation not due to domestic factors

The rupee hit a life low of Rs 71.57 to a US dollar earlier on Tuesday, making imports costlier and putting price pressures

Rupee slides further by 15 paise to end at fresh lifetime low of 70.74 on month-end demand for US dollars from importers
Business

Rupee slides further by 15 paise to end at fresh lifetime low of 70.74 on month-end demand for US dollars from importers

In the day trade, the rupee plunged to a record low of 70.90 to the dollar as firming oil prices fanned fears of widening current account deficit.

India may breach 3.3% fiscal deficit target for current financial year as oil prices rise: Moody's
Business

India may breach 3.3% fiscal deficit target for current financial year as oil prices rise: Moody's

Moody's expects the current account deficit to widen to 2.5 percent of GDP in the fiscal year ending March 2019, from 1.5 percent in fiscal 2018.

Widening CAD to increase borrowing costs, bring down volume of fresh forex loans: India Ratings report
Business

Widening CAD to increase borrowing costs, bring down volume of fresh forex loans: India Ratings report

The widening current account deficit (CAD), which is projected to cross 2.6 percent of GDP this year, coupled with the rupee plunge, is likely to increase borrowing costs for corporates and bring down the overall volume of fresh forex loans, says a India Ratings report

Foreign direct investment in India grows 23% in Apr-Jun quarter of current fiscal, says govt data
Business

Foreign direct investment in India grows 23% in Apr-Jun quarter of current fiscal, says govt data

Singapore was the largest source of FDI during April-June 2018-19 with $6.52 billion, followed by Mauritius ($1.5 billion), Japan ($874 million), the Netherlands ($836 million), the UK ($648 million), and the US ($348 million).

Current account deficit to hit 2.8% of GDP in FY19 on surge in crude oil prices, moderate growth in exports: SBI report
Business

Current account deficit to hit 2.8% of GDP in FY19 on surge in crude oil prices, moderate growth in exports: SBI report

The merchandise trade imbalance is also expected to rise to $188 billion in FY19, compared with $160 billion in FY18, according to SBI research report

Current account deficit to widen to 2.5% of GDP in FY19 due to higher oil prices, says Moody's, experts
Business

Current account deficit to widen to 2.5% of GDP in FY19 due to higher oil prices, says Moody's, experts

A further widening of the CAD is expected in 2018-19 to around 2.4 percent of GDP, due to a further increase in the oil import bill and the impact of rupee depreciation on import costs.

Current account deficit expected to widen to 2.8% of GDP this fiscal: Nomura
Business

Current account deficit expected to widen to 2.8% of GDP this fiscal: Nomura

With rising oil prices, depreciating rupee and outflow of portfolio investments, there are concerns that current account deficit might rise in the current fiscal.

India's oil import bill to jump by $26 billion as depreciating rupee renders imported crude costlier
Business

India's oil import bill to jump by $26 billion as depreciating rupee renders imported crude costlier

India, which imports over 80 percent of its oil needs, spent $87.7 billion (Rs 5.65 lakh crore) on importing 220.43 million tonne (MT) of crude oil in 2017-18

Gold imports rise 22% to $33.65 billion in 2017-18, shows commerce ministry data
Business

Gold imports rise 22% to $33.65 billion in 2017-18, shows commerce ministry data

Increase in gold imports pushed the country's trade deficit to $157 billion in the last fiscal, an increase of about 45 percent as compared to the year-ago period.

Gold imports in June quarter dip 25% to $8.43 bn, shows commerce ministry data
Business

Gold imports in June quarter dip 25% to $8.43 bn, shows commerce ministry data

Gold imports fell by 25 percent to $8.43 billion in the first quarter of the current fiscal due to sliding prices of the metal in both global and domestic markets

Rupee expected to remain at 68-72 against US dollar in next 2-4 months, says UBS report
Business

Rupee expected to remain at 68-72 against US dollar in next 2-4 months, says UBS report

The rupee is expected to strengthen, and by the end of this financial year rupee is likely to be near 66, and by end-2019-20 at around 66.5.

Freefalling rupee: Amid the currency's crash, Moody's says India least vulnerable to US dollar strengthening
Business

Freefalling rupee: Amid the currency's crash, Moody's says India least vulnerable to US dollar strengthening

"India's significant build-up of foreign exchange reserves in recent years to all-time highs provides a support buffer to help mitigate external vulnerability risk," said the US-based rating agency

Rupee hits all time low of 69.01, tracking Asian peers, amid weakening macroeconomic fundamentals
Business

Rupee hits all time low of 69.01, tracking Asian peers, amid weakening macroeconomic fundamentals

he rupee has shed 7.7 percent so far this year at its record low, making it the worst performing currency in Asia

OPEC decision: Good news from the oil cartel gives government time to consider options
Business

OPEC decision: Good news from the oil cartel gives government time to consider options

Decisions on taxation of fuels would have to be taken and the present relief provided by OPEC should be leveraged to take a concerted view.

CAD at 2.5% of GDP not worrisome, govt has required instruments in place to deal with outflows: Subhash Chandra Garg
Business

CAD at 2.5% of GDP not worrisome, govt has required instruments in place to deal with outflows: Subhash Chandra Garg

With rising oil prices, depreciating rupee and outflow of portfolio investments, there are concerns that CAD might rise in the current fiscal.

India's current account deficit for fiscal 2017-18 widens on higher trade deficit, RBI data shows
Business

India's current account deficit for fiscal 2017-18 widens on higher trade deficit, RBI data shows

According to the RBI data, the CAD for last fiscal widened to 1.9 percent of the GDP (Gross Domestic Product) from 0.6 percent in 2016-17

Moody's says Narendra Modi government could cut expenditure to meet fiscal deficit target
Business

Moody's says Narendra Modi government could cut expenditure to meet fiscal deficit target

Moody's expects the government to meet its fiscal deficit target of 3.3 percent for 2018-19, based on its commitment to gradual fiscal consolidation and budget assumptions which appear achievable, it said in a statement

Four years of Narendra Modi: Runaway oil prices to test NDA regime in fifth year, says Crisil
Business

Four years of Narendra Modi: Runaway oil prices to test NDA regime in fifth year, says Crisil

The Narendra Modi government has been lucky on the monsoons and oil front in the first four years, but external sector risks will be testing it in the crucial fifth year, according to ratings agency Crisil

Rising crude oil prices may stretch current account deficit to 2.5% of GDP in FY19, says SBI
Business

Rising crude oil prices may stretch current account deficit to 2.5% of GDP in FY19, says SBI

According to SBI Ecowrap, every $10/barrel increase in oil price results in additional import bill of $8 billion