Current account deficit rises to historic high of 6.7 percent

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India's current account deficit has come in at a record high 6.7 percent of GDP for the December quarter, worse than anticipated. Analysts had exepected a figure in the range of 6-6.5 per cent.

The country's current account deficit was at $32.63 billion in the 3 months ending December, compared with $20.16 billion in the corresponding period of last year.

The CAD is likely to now exert pressure on the currency, which in turn could affect the RBI's ability to cut rates.

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Story first published: Thursday, March 28, 2013, 17:57 [IST]
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