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India's current account deficit reduces to $10.5 billion in Dec qtr: RBI
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India's current account deficit reduces to $10.5 billion in Dec qtr: RBI

| @indiablooms | 26 Mar 2024, 09:55 pm

New Delhi: India's current account deficit lessened to $10.5 billion or 1.2 percent of the GDP in the October-December quarter, from $11.4 billion in the preceding three months and $16.8 billion a year earlier, Reserve Bank of India (RBI) said on Tuesday.

The net Foreign Direct Investment (FDI) inflow stood at $8.5 billion for the period of April-December 2023, a decrease from $21.6 billion recorded during the same period in 2022.

The foreign exchange reserves (on a Balance of Payments basis) stood at $6.0 billion in the October-December quarter of the current financial year, compared to $11.1 billion a year ago.

External commercial borrowings to India experienced a net outflow of $2.6 billion in October-December, contrasting with a net outflow of $2.5 billion observed a year earlier.

Meanwhile, non-resident deposits witnessed a greater net inflow of $3.9 billion compared to $2.6 billion recorded in the corresponding period last year.

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