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BofAML ups CAD forecast to 2.8% in FY19 on rising crude prices

Updated : September 25, 2018 08:00 AM IST

The widening current account gap is one of the major concerns which is putting pressure on the rupee, which has depreciated 13 percent against dollar this year.
Brent breached the $80 per barrel mark Monday and analysts at the American brokerage said they expect it to go up further to $95 by June 2019, which will put pressure on the current account.
The country's CAD widened to $15.8 billion or 2.4 percent of the GDP for the first quarter.
BofAML ups CAD forecast to 2.8% in FY19 on rising crude prices

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