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07Jul 2024
INDIA’S BALANCE OF PAYMENTS: UNDERSTANDING THE DYNAMICS
Why in the news? India’s current account showed a surplus in Q4 of 2023-24, marking the first surplus in 11 quarters. Movements in the current account are significant as they affect the rupee’s exchange rate, India’s sovereign ratings, and overall economic health. Source: Textbook What is Balance of Payments? Definition: The Balance of Payments (BoP) …
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