Current account deficit and currency depreciation.

India is not the only emerging economy feeling the heat of current account deficit on its currency. Several others like Brazil, South Africa, Turkey and Indonesia have seen their currencies lose value against the US dollar over the past couple of months. In fact even countries like Philippines and Russia that have a current account surplus have seen their currencies depreciating by 6% and 4.5% respectively since April 2013.


                   

Source: RBI Economic Survey