Expects FY14 CAD at 2% of GDP: Rohini Malkani

Rohini Malkani of Citi said, "We maintain FY14 and FY15 CAD estimates of 2 percent and 2.3 percent of GDP. With the 9-month CAD at USD 31.1 bn, we maintain our full-year CAD estimates of USD 36.8 bn or 2 percent of GDP. This adjusts or lower remittances and account of a rise in unofficial gold imports and the success of the FCNR deposit scheme."

"Rupee is seen in a 61-64/USD range. Elections and forward-adjusted reserves are key triggers," she added.