# India rupee to remain weak on current account and rate differential: Reuters poll

> A Reuters poll expects the rupee to stay weak, citing a widening trade deficit driven by higher oil prices and expectations of a prolonged Fed tightening cycle. The rupee had fallen about 11% year to date to a record low of 83.29 per dollar in October.

- Date: 2022-12-07 · published 2022-12-07T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/38491-india-rupee-to-remain-weak-on-current-account-and-rate-differential-reuters-poll
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Persistent rupee weakness plus high oil import costs widens India's trade gap and keeps the currency pressure on importers of vegetable oils and other commodities priced in dollars.

## Read by commodity

- WTI: bullish ▲
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-05-31 | [Canadian dollar on track for monthly gain as current account swings to surplus - The Globe and Mail](https://feedsoft.ai/events/47327-canadian-dollar-on-track-for-monthly-gain-as-current-account-swings-to-surplus.md) | +4.4% | +10.0% |
| WTI | 2022-03-22 | [Bangkok Post - Thailand faces current account blowout on oil, tourism risks](https://feedsoft.ai/events/42513-bangkok-post-thailand-faces-current-account-blowout-on-oil-tourism-risks.md) | -4.6% | -8.5% |
| WTI | 2024-08-23 | [Oil climbs over 2% after Fed's Powell indicates US rate cuts \| Reuters](https://feedsoft.ai/events/28694-oil-climbs-over-2-after-fed-s-powell-indicates-us-rate-cuts-reuters.md) | +4.2% | -1.4% |
| WTI | 2024-07-31 | [Latin American Stocks And Currencies Climb On Oil Rebound And Weak Dollar - Finimize](https://feedsoft.ai/events/29564-latin-american-stocks-and-currencies-climb-on-oil-rebound-and-weak-dollar.md) | -2.1% | +0.6% |
| WTI | 2022-11-11 | [Oil jumps as China eases COVID curbs in potential boost to demand](https://feedsoft.ai/events/38851-oil-jumps-as-china-eases-covid-curbs-in-potential-boost-to-demand.md) | -5.6% | -17.9% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/india-rupee-remain-weak-current-account-rate-differential-2022-12-07/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.