High oil prices pose threat to improvement in Indian CAD: Report
SINGAPORE: Markets view the rally in Brent oil prices, triggered by geopolitical tensions, as a threat to the improvement in India’s FY20 current account deficit and forecasts for a balance of payment surplus, according to a report.
Downbeat sentiments saw USD-INR exchange rate test past 72 to two-month high, while the benchmark equity indices witnessed mayhem on Monday, said a report by Singapore’s banking group DBS.
