Rupee weakens as inflation and trade deficit rise
India's June CPI increased to 4.4% YoY, surpassing expectations, while the trade deficit widened to USD 30.4 bn. This led to USD/INR advancing 0.3% to 95.62, indicating pressure on the rupee.
pre-market1 source ↓written by the desknot a recommendation
- YoY
- 4.4%
- USD/INR advanced
- 0.3%
- 95.62
India’s June CPI rose to 4.4% YoY, exceeding expectations and marking the highest level since December 2024. The trade deficit widened to USD 30.4 bn, driven by increased oil imports. Consequently, USD/INR advanced 0.3% to 95.62, prompting authorities to encourage higher dollar deposits from non-resident Indians.
Not investment advice. For informational purposes only.