India's sequential Q2FY21 current account surplus moderates to $15.5 bn

India's current account surplus moderated to $15.5 billion in Q2FY21 from $19.2 billion reported for the first quarter of the current fiscal.

On a YoY basis, the country's Balance of Payment status was in a deficit of $7.6 billion during Q2FY20.

"The narrowing of the current account surplus in Q2 of 2020-21 was on account of a rise in the merchandise trade deficit to $14.8 billion from $10.8 billion in the preceding quarter," RBI said in a statement on developments in India's Q2FY21 BoP.

However, the data showed an increase in net services' receipts both sequentially and on a YoY basis, primarily on the back of higher net earnings from computer services.