The rupee is in for a rough ride ahead, with the next key psychological level of 80 per dollar almost a done deal after a blowout US inflation print, which will boost the already-rampant dollar further.That inflation data surging to more than expected 9.1 per cent from a year ago, marking a 40-year peak, will crystalise expectations for a bigger-sized Federal Reserve interest rate hike this month and, in turn, solidify recession risks.
India’s merchandise trade deficit rose to $26.1 billion in June 2022, in comparison to $9.6 billion in June 2021, the Ministry of Commerce & Industry said on 14 July.
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