Outlook 2023: Here's why rupee will depreciate against dollar in H12 min read 31 Dec 2022, 11:10 AM IST
As global inflation and economic concerns continue to dent risk sentiment, rupee is expected to be weak in first half of 2023. Full year range at 80-85/USD
Indian rupee emerged as Asia’s worst performing currency in 2022 depreciating around 11.5% against the US Dollar on strength in the greenback and capital outflows by foreign investors. FIIs pulled out around ₹2.75 lakh crores this year. Dollar has strengthened amid Russia-Ukraine conflict, global slowdown and global inflation concerns which led to surge in the US bond yields, thus leading to appreciating US Dollar.
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