Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

Lower oil prices to counter Omicron fears; yet rupee to remain subdued

IANS
Updated: December 6th, 2021, 07:45 IST
in Business
0
Rupee
Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

Mumbai: Concerns over new Covid-19 variant Omicron, as well as continued foreign fund outflows, will keep Indian rupee subdued during the upcoming week.

Besides, rising trade deficit along with fears of US tapering measures are likely to hamper any appreciation move.

Also Read

Gold price surges to record high

Will gold prices further rise or fall? Here’s what experts say

4 hours ago
PFI in Indian equity market

FPIs pump Rs 6,480 cr into Indian equities in Oct after three-month withdrawal streak

4 hours ago

However, the downside will be capped by lower oil prices.

“Rising trade deficit and taper had it’s toll on rupee. Continuos FPI pull out from equities has been countered by IPO inflows so far, and may continue for some more time,” said Sajal Gupta, Head, Forex and Rates, at Edelweiss Securities.

“The Omicron variant is also a problem less discovered. This would take time to decipher. However, India should benefit from its large vaccinated population,” he added.

Last week, the rupee closed at 75.10 to a greenback, weakening significantly.

“Risk sentiment is on the backfoot as worries over Omicron created uncertainty over sustainability in growth,” said Devarsh Vakil, Deputy Head of Retail Research, HDFC Securities.

“Rupee traders are focusing on movement of dollar index, crude oil, fund inflows and news flow on the new stain of the virus, which will be crucial for directional trade,” Vakil added.

He cited that forex market is likely to remain turbulent in the week ahead.

“The rupee is expected to remain within the range of 74.70 to 75.70,” he said.

According to Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services: “Next week, market participants will be keeping an eye on the RBI policy statement and expectation is that the central bank could start the process of normalising policy amid signs of higher inflation by lifting the reverse repo rate from its current record low of 3.35 per cent.

“Any hawkish commentary from the RBI Governor is likely to restrict major fall for the rupee.”

The ‘Currency Desk’ of Emkay Global Financial Services said: “Next week, we have RBI policy and a likely tightening by raising the reverse repo rate may limit any rise in USDINR spot.

“So we expect USDINR spot to continue oscillating in between 74.70 and 75.50. As long as it trades above 74.70, it will continue the uptrend.”

IANS

Tags: Oil priceOmicronRupee
ShareTweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

 

OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

#MyPaperBagChallenge

Swarit Praharaj

December 12, 2019
?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????
#MyPaperBagChallenge

Dibya Ranjan Das

December 12, 2019
#MyPaperBagChallenge

Rajashree Pravati Mohanty

December 12, 2019
#MyPaperBagChallenge

Adweeti Bhattacharya

December 12, 2019
#MyPaperBagChallenge

Surya Sidhant Rath

December 12, 2019
#MyPaperBagChallenge

Vandana Singh

December 12, 2019
#MyPaperBagChallenge

Diptiranjan Biswal

December 12, 2019
#MyPaperBagChallenge

Archit Mohapatra

December 12, 2019
#MyPaperBagChallenge

Faiza Firdous

December 12, 2019
#MyPaperBagChallenge

Subhajyoti Mohanty

December 12, 2019
#MyPaperBagChallenge

Matrumangal Jena

December 12, 2019
#MyPaperBagChallenge

Ankita Balabantray

December 12, 2019
#MyPaperBagChallenge

Nishikant Rout

December 12, 2019
#MyPaperBagChallenge

Anshuman Sahoo

December 12, 2019
#MyPaperBagChallenge

Jyotshna Mayee Pattnaik

December 12, 2019
#MyPaperBagChallenge

Pragyan Priyambada

December 12, 2019
#MyPaperBagChallenge

Akshaya Kumar Dash

December 12, 2019
#MyPaperBagChallenge

Rajashree Manasa Mohanty

December 12, 2019
#MyPaperBagChallenge

Manas Samanta

December 12, 2019
#MyPaperBagChallenge

Geetanjali Patro

December 12, 2019
#MyPaperBagChallenge

Ramakanta Sahoo

December 12, 2019
#MyPaperBagChallenge

Bijswajit Pradhan

December 12, 2019
#MyPaperBagChallenge

Aman Kumar Barisal

December 12, 2019
#MyPaperBagChallenge

Archana Parida

December 12, 2019
#MyPaperBagChallenge

Pitabas Tripathy

December 12, 2019
#MyPaperBagChallenge

Smitarani Sahoo

December 12, 2019
#MyPaperBagChallenge

Adyasha Priyadarsani Sendha

December 12, 2019
#MyPaperBagChallenge

Tapaswini Mallick

December 12, 2019
#MyPaperBagChallenge

Sarmistha Nayak

December 12, 2019
#MyPaperBagChallenge

Shreyanshu Bal

December 12, 2019

Archives

Editorial

Empty Ambition

Rights & Restrictions: AAKAR PATEL
October 19, 2025

When was the last time you read or saw something about India and the G20? And what do you recall...

Read moreDetails

Market Power

Power of Continuity
October 18, 2025

The power corridors are abuzz again, but not over taxes or budgets this time. Eyeballs are fixed on who’ll get...

Read moreDetails

Historic Deal

Trump, Netanyahu
October 15, 2025

There is no doubt the way fighting in Gaza was ended and a peace process set in motion in the...

Read moreDetails

Peacemakers

Trump-Maria
October 14, 2025

There is rejoicing as peace has started to return to the heart of the war-ravaged Middle East, and a ceasefire...

Read moreDetails
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Editorial
  • Opinion
  • Sports
  • About Us
  • Advertise
  • Contact Us
  • Jobs
Developed By Ratna Technology

© 2025 All rights Reserved by OrissaPOST

  • News in Odia
  • Orissa POST Epaper
  • Video
  • Home
  • Trending
  • Metro
  • State
  • Odisha Special
  • National
  • International
  • Sports
  • Business
  • Editorial
  • Entertainment
  • Horoscope
  • Careers
  • Feature
  • Today’s Pic
  • Opinion
  • Sci-Tech
  • About Us
  • Contact Us
  • Jobs

© 2025 All rights Reserved by OrissaPOST

    • News in Odia
    • Orissa POST Epaper
    • Video
    • Home
    • Trending
    • Metro
    • State
    • Odisha Special
    • National
    • International
    • Sports
    • Business
    • Editorial
    • Entertainment
    • Horoscope
    • Careers
    • Feature
    • Today’s Pic
    • Opinion
    • Sci-Tech
    • About Us
    • Contact Us
    • Jobs

    © 2025 All rights Reserved by OrissaPOST