| Date: |
03-10-2011 |
| Subject: |
India's Current Account Deficit Grows to USD14.1 |
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India's Reserve Bank said that in the three months through June, the country's current account deficit grew to USD14.1 billion from USD5.4 billion in the previous quarter, reported Times of Oman.
The bank added that the decline resulted from the increase in the trade shortfall; on the other hand, overseas funds in 2011 sold a net USD86 million of Indian stocks compared with USD29.4 billion of purchases in 2010.
It also said that the slow down of international economic growth would probably affect India's exports, whereas equity sales by foreign investors seeking safe havens might raise the gap in the gauge.
It is worth noting that the current account is the broadest measure of international trade and investment flows.
Source : menafn.com
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