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

Currency forecast: Wider trade deficit to weaken rupee

IANS
Updated: January 16th, 2022, 10:10 IST
in Business
0
Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

Mumbai: Rising trade deficit along with prospects of a rate hike by the US Fed is expected to subdue the Indian rupee during the upcoming week.

Accordingly, the rupee is expected to range from 73.80-74.70 to a USD.

Also Read

CITU Odisha

Odisha: CITU stages protest against 10-hour workday extension

1 day ago
Donald Trump

US to impose 25% tariffs on imported trucks from Nov 1: Trump

1 day ago

Last week, rupee had closed at Rs 74.14 to a USD before hitting a low of 73.70.

“Rising trade deficits of $21.7 billion for December should keep rupee under pressure,” said Sajal Gupta, Head, Forex and Rates at Edelweiss Securities.

“Besides, US Fed’s commentary of rate hikes in 2022 shall also be a dampner for rupee and other EM currencies. Lesser number of IPOs in the coming fortnight can also be a factor for rupee weakness ahead,” Gupta added.

Notably, a rate hike by the US Fed can potentially drive away FIIs from India and other emerging markets.

On the trade front, deficit widened by 37.92 per cent on a year-on-year basis to $21.68 billion in December 2021 from $15.72 billion in the like period of 2020.

It had widened to $12.49 billion in December 2019.

“India rupee has become the worst performing currency among Asian basket amidst back of surging trade deficit and inflation,” said Devarsh Vakil, Deputy Head of Retail Research, HDFC Securities.

“Rupee is having strong support around 73.80 while resistance will be in the range of 74.40 to 74.70,” Vakil added.

According to Gaurang Somaiya, forex and bullion analyst, Motilal Oswal Financial Services: “At the start of the week, China’s GDP number is scheduled to be released and that could set the tone for the week.

“We expect the momentum for the USDINR would continue to remain positive and it could quote in the range of 73.70 and 74.50.”

IANS 

Tags: forexRupeeTrade Deficit
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

Akriti Negi

December 12, 2019
#MyPaperBagChallenge

Surya Sidhant Rath

December 12, 2019
#MyPaperBagChallenge

Priyasha Pradhan

December 12, 2019
#MyPaperBagChallenge

Praptimayee Biswal

December 12, 2019
#MyPaperBagChallenge

Sarmistha Nayak

December 12, 2019
#MyPaperBagChallenge

Vandana Singh

December 12, 2019
#MyPaperBagChallenge

Archana Parida

December 12, 2019
#MyPaperBagChallenge

Parbati Mohanty

December 12, 2019
#MyPaperBagChallenge

Sipra Mishra

December 12, 2019
#MyPaperBagChallenge

Anup Mahapatra

December 12, 2019
#MyPaperBagChallenge

Sitakanta Mohanty

December 12, 2019
#MyPaperBagChallenge

Diptiranjan Biswal

December 12, 2019
#MyPaperBagChallenge

Subhajyoti Mohanty

December 12, 2019
#MyPaperBagChallenge

Debasis Mohanty

December 12, 2019
#MyPaperBagChallenge

Spinoj Pattnaik

December 12, 2019
#MyPaperBagChallenge

Jyotshna Mayee Pattnaik

December 12, 2019
#MyPaperBagChallenge

Pragyan Priyambada

December 12, 2019
#MyPaperBagChallenge

Ankita Balabantray

December 12, 2019
#MyPaperBagChallenge

Adyasha Priyadarsani Sendha

December 12, 2019
#MyPaperBagChallenge

Ramakanta Sahoo

December 12, 2019
#MyPaperBagChallenge

Matrumangal Jena

December 12, 2019
#MyPaperBagChallenge

Ipsita

December 12, 2019
#MyPaperBagChallenge

Sisirkumar Maharana

December 12, 2019
#MyPaperBagChallenge

Pratik Kumar Ghibela

December 12, 2019
#MyPaperBagChallenge

Manas Samanta

December 12, 2019
#MyPaperBagChallenge

Priyabrata Mohanty

December 12, 2019
#MyPaperBagChallenge

Anshuman Sahoo

December 12, 2019
#MyPaperBagChallenge

Shreyanshu Bal

December 12, 2019
#MyPaperBagChallenge

Tapaswini Mallick

December 12, 2019
#MyPaperBagChallenge

Anasuya Sahoo

December 12, 2019

Archives

Editorial

Military Rhetoric

October 8, 2025

I t is prudent for officials in high positions to speak with care and caution, for their words carry the...

Read moreDetails

Chinese H-1B

Pic- IANS
October 7, 2025

When US President Donald Trump’s administration in a new fiat, made the coveted H-1B visa available to foreigners at a...

Read moreDetails

Toxic Syrup

Cough syrup
October 6, 2025

Drug adulteration is a major scourge in India where an unholy nexus of the all-powerful pharma industry and unscrupulous doctors,...

Read moreDetails

List of Lowlights

October 5, 2025

At the end of every year, the organisation I represent puts out a report on human rights in India. This...

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