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Current account deficit rises to historic high of 6.7 percent


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.

Read more about: cad
Story first published: Thursday, March 28, 2013, 17:57 [IST]
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