India's overall balance of payments recorded a deficit of $4.4 billion in May, swinging from a surplus of $4.4 billion in the same month last year, the Reserve Bank of India said in a Wednesday release.
This marked the second straight month that the country booked a deficit.
India's current account balance also swung to a deficit of $2 billion in the month from a surplus of $700 million a year earlier.
Net merchandise trade deficit widened to $27.9 billion in May from $22.6 billion a year earlier. The figure was unchanged from a month earlier.
Net services surplus edged down to $15.7 billion from $15.8 billion a year prior and from $18.6 billion in April.