Rupee at Record Low: Rupee may fall further, estimates Nomura, domestic currency may fall to the level of 82

Rupee likely to fall further

It is estimated in the report that in the third quarter of 2022, the rupee may break up to the level of 82 against the dollar. At the same time, in the last quarter of the year i.e. between October-December, there can be a recovery in the rupee.

Rupee has reached another record low against the dollar today. In Tuesday’s trade, the rupee has closed down to the level of 79.36 against the dollar. Which is the record low of Rs. Although the Japanese broking firm nomura ,NomuraIf we believe that the rupee may see further decline and the rupee against the dollar (Dollar vs Rupee) It may break to the level of 82 by the third quarter of 2022. According to the experts of Nomura, there may be an increase in the current account deficit in the coming times. Due to which the pressure on the rupee may increase. At the same time, with the withdrawal of their investment by foreign investors, the difficulty for the rupee will increase much more.

Rupee will fall

According to Nomura, due to the increase in the current account deficit, the pressure on the rupee will increase further. It is estimated that the deficit will increase to 3.3 percent in the financial year 2022-23. At the same time, the trade deficit in goods has reached a level of $ 25.6 billion in the month of June, which is a new record level. This will increase the pressure on the rupee. At the same time, there will also be pressure on the rupee to withdraw investment from the domestic markets by FPIs, so far in the year 2022, FPIs have withdrawn about $ 29 billion from the domestic markets. In view of all these conditions, the rupee may break up to the level of 82 against the dollar in the third quarter of 2022. At the same time, in the last quarter of the year i.e. between October-December, there can be a recovery in the rupee and the rupee can come up to the level of 81. That is, Nomura estimates that by the end of this year, the rupee will remain above the level of 80.

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What will be the effect on common people

Weakness in rupee will have different impact on importers and exporters. Import bills for importers will increase and crude oil, gas, edible oil and gold etc. may become more expensive. In such a situation, the effect of inflation can increase because due to the rise in crude oil prices, the bill of crude prices will increase amid weakness in the rupee, which will see pressure on the prices of petrol and diesel. Fuel prices have a great impact on inflation, in such a situation a weak rupee can increase inflation. However, on the other hand, a weak rupee can see an increase in exports from India and exporters can get many new markets and opportunities and their income can increase.