Pakistan July-Nov c/a deficit narrows

KARACHI (Reuters) - Pakistan's current account deficit for July-November narrowed to a provisional $504 million, compared with $1.822 billion in the same period last year, the central bank said on Monday. - In November, the current account stood at a provisional surplus of $54 million, compared with a surplus of $29 million in October, the State Bank of Pakistan said. - Remittances from overseas Pakistanis rose more than 15 percent to $4.43 billion in the first five months of fiscal year 2010/11 (July-June), compared with the same period last year. "This is the third consecutive month in which the current account has been in surplus and the main reason is higher remittances and also improvement in the balance of goods and services for this month. "The narrowing current account deficit is being supported by higher remittances but the deficit could widen further because of rising international oil prices.

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