Undeniably, the passing year 2022 was the year of the almighty dollar, as the efficient economists hinted. So, which currencies will have an impressive impact on the economy in the following odd year 2023? This is a trillion-dollar question.
What will extraordinarily happen to our very special country’ currency? Will it be able to stand up comparatively better than the poorly uncertain British Pound? As has been said that almost every international asset class fell in, the US dollar maintained its status proudly. It has been more or less firmly affirmed itself reportedly as the world’s number one financially secure currency.
Until energy prices fall, our rupee will struggle, so think the economic gazers. The rupee is falling almost 10 percent against the stronger dollar. The Indian economy has been at the sharp end of the energy fright.
As a major oil importer, it has to bear shock in the coming year. Though the recent oil price withdrawal has done slightly to support, our country’s widening $110 billion trade deficit implies rupee bearishness going into the next year, despite favourable Indian stock market inflows. In case, the oil price falls distantly, it would aid, otherwise, the bearish stress could remain alive for the new year.