New Delhi: India’s efforts to curb imports, improve exports and attract greater remittances may help it almost fully fund its Current Account Deficit this fiscal, and also help the rupee recover to 61-level against the US dollar in the next 6-12 months, a Barclays report said on Friday.
According to the global financial services major, the country’s Current Account Deficit (CAD), which is the difference between the outflow and inflow of foreign currency, has the potential to “surprise favourably”. Barclays has cut its FY’13-14 deficit forecast to around $68 billion.
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