India's current account deficit in Q2 hits four-year high on oil price rise
The current account deficit in July-September hit 2.9 percent of gross domestic product or $19.1 billion, the highest since April-June quarter of 2013. In July-September 2017 the current account deficit was $6.9 billion or 1.1 percent of GDP, Reserve Bank of India data showed.
Oil prices have slumped by more than 30 percent since early October, pressured by concerns supply will exceed demand in 2019 as economic growth slows. Representational Image, source: Reuters