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<h1>Current account deficit moderates as exports outpace imports and invisibles recover, easing external financing pressures.</h1> The quarter saw a moderation in the Current Account Deficit as exports grew faster than imports and net invisibles turned around. Stronger services receipts and slower invisibles payments raised net invisibles, while capital inflows moderated-chiefly due to lower net FDI and portfolio flows-offset partly by higher ECBs and NRI deposits. Capital account surplus nonetheless exceeded the current account deficit for the quarter, yielding a modest net accretion to foreign exchange reserves. Annual data show a wider trade deficit offset by higher net invisibles and increased net capital inflows.