Is there more risk to the Indian rupee hereon? 5 key factors to track

The rupee should depreciate to Rs82 in FY23 as compared to Rs75.8 at the end of FY22 based on the premise that rising trade deficit and steep capital outflows would hurt India’s external sector dynamic. High commodity prices led to 33% YoY growth in imports in FY23YTD while exports are lagging at 12.3% YoY.

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