accountRising non-oil imports coupled with lower invisibles (both software and remittances) resulted in India’s 3QFY10 Current Account Deficit (CAD) coming in at US$12bn, similar to levels seen in 2Q. However, lower capital flows at US$14.7bn vs US$22.6bn in 2Q resulted in the overall BoP surplus narrowing to US$1.8bn vs US$9.4bn in the previous quarter. Cumulatively, during 9MFY10 the BoP saw a surplus...
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Reactions to India BoP Update: Higher Non-oil Imports to Result in Current Account Staying in the Red in FY11; Overall BoP to Remain in Surplus
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