The current account deficit data for the month of March 2013 narrowed to 3.6% of
GDP, much below that what the market was anticipating. At last, some breather for
the INR. But, this is only short term. This data may only arrest further depreciation
in the rupee for some time.
The resurgent trend in the USD index is a strong headwind for the INR. The finance
minister, Mr. P Chidambaram, has cautioned that current account gap may rise going
forward.
Crude Oil April expiry is quoted at 54 per barrel - down 0.2 percent.
ReplyDeleteBrent Oil May and Natural Gas April series are marginally down at $ 56.30 and $ 2.794, respectively.
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