Economists are now predicting that the gap in the current account measure of trade in goods and services will be 1.9% of gross domestic product in the 2019-2020 financial year onwards, down from earlier estimates of 2.3%. The lower prints will provide a tailwind to the rupee, which is vulnerable to a selloff, given the twin deficits in the nation’s budget and current account make it more reliant on foreign inflows.
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