India rupee is likely to open weak as the country’s current account deficit widened last quarter

Gold Silver Reports (GSR) – India rupee is likely to open weak as the country’s current account deficit widened last quarter. The current account gap was $13 billion in October-December quarter or 2 percent of GDP.  

That’s wider than the previous quarter’s $7.21 billion deficit. Implied opening from forwards suggest spot may start trading around 65.12.  

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Goldman sees the rising trade deficit more as a risk than an immediate concern to India’s external account. It has raised its FY18 current account deficit forecast to 1.9 percent of GDP from 1.8 percent earlier.

India rupee is likely to open weak as the country’s current account deficit widened last quarter via @goldsilverrepor
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