India says current account deficit could be smaller than $70 bln
NEW DELHI Aug 22 (Reuters) - Recent numbers indicate that India's current account deficit could be smaller than the previously estimated $70 billion in the current fiscal year, Finance Minister P. Chidambaram said on Thursday, but did not elaborate.
Chidambaram also said he believed the rupee, which hit a historic low of 65.56 against the dollar on Thursday, was undervalued.
India is currently growing at its slowest pace in a decade, marred by a ballooning current account deficit, a falling currency and capital outflows. (Reporting by Anurag Kotoky)
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