India's Current Account Deficit Moderates as Forex Reserves Hit Record $651.5 Billion: RBI Governor Shaktikanta Das

Mumbai:  With a lower trade deficit, robust services export growth and strong  remittances, the current account deficit (CAD) is expected to have moderated in the January - March quarter of 2023-24, RBI Governor Shaktikanta Das said on Friday.  India’s foreign exchange reserves reached a historical high of US$ 651.5 billion as of May 31.  India’s external sector remains resilient and overall, we remain confident of meeting our  external financing requirements comfortably, Das said at a press conference after the monetary  policy meeting. (IANS)

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