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India Posts Record Current Account Surplus In June Quarter

The surplus stood at 3.9% of gross domestic product in the latest quarter, compared with a deficit of $15 billion or 2.1% in the same period a year ago

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

The current account figure for the first quarter of the fiscal year compared with a surplus of $600 million in the Jan-March quarter, which was the country's first surplus in 13 years.

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

(Reuters)


Tags assigned to this article:
india Reserve Bank of India (RBI) trade deficit