The Indian rupee is likely to hold in a tight range in the early part of 2023 but the worst is possibly behind it, said traders and analysts.
The local currency has hovered close to its lifetime lows through most of December, but investors said it was not a cause for concern as they pinned hopes on inflows into equities and debt in 2023, on a possible recession in global economies.
"Equity flows should come back, as a recession is likely in global economies but India should be shielded from it. Plus, an easing of commodity prices could help our trade deficit," he added.widened to a more than nine-year high in the July-September quarter on the back of high commodity prices, which pushed up the trade deficit, data from the Reserve Bank of India showed on Thursday.
The rupee is set to end the year down nearly 11% against the greenback, its worst annual performance since 2013. Most bankers and analysts predicted the rupee would trade in the 81.50-83.50 range in the first quarter of 2023, with the RBI intervening to prevent any sharp volatility while it also looks to rebuild its foreign exchange reserves.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Trim Pickings: 2023 Nissan Rogue vs. 2023 Toyota RAV4The base models of the Nissan Rogue S and Toyota RAV4 LE are priced within $255 of each other, making for very close competition. Both of these models are well equipped with feature highlights that include LED headlights, tinted rear windows, cloth upholstery, satellite radio, and Apple CarPlay and Android Auto compatibility. On the safety front, both SUVs include a forward collision warning with automatic emergency braking system and automatic high-beam headlights.
Consulte Mais informação »
Indian cos likely to raise funds via public issues in 2023 as cash tightens-bankersFundraising through public issues could see an uptick in 2023 as retail investors bet on attractive interest rates and companies look to diversify their funding portfolio under tightening liquidity conditions, bankers and analysts said.
Consulte Mais informação »
Real estate in 2023: Best, worst locations to move to in the new yearExperts offer insights into what parts of the country are best to move to if you're looking to get the most bang for your buck in the real estate market in 2023.
Consulte Mais informação »
These 3 Unlucky Zodiac Signs Will Have the Worst Year—Here’s Why 2023 Could Be Rough.........2023 might be tough for these 3 zodiac signs...... apologies in advance 👎
Consulte Mais informação »
Every 2023 Compact SUV Ranked from Worst to BestRanking the compact crossover SUV segment, from Bronco Sport to Tucson.
Consulte Mais informação »
Are Ames Department Stores Returning in 2023?A syndicated local news article said that some people were 'skeptical' about the news. We did some digging to look for the truth.
Consulte Mais informação »