KONTAN.CO.ID - NEW DELHI. India's June trade deficit widened to a record $25.63 billion, pushed by a rise in crude oil and coal imports, from $9.61 billion a year ago, adding to fears of further pressure on the rupee. New Delhi is worried about rising imports after a surge in global crude and commodity prices following the Ukraine war, and rising demand for coal and other goods fuelled by the domestic economic recovery. India's rupee has plunged 6% against the dollar this year, weighed down by broad strength in the greenback and as investors retreated from domestic share markets.
India's Record Trade Deficit in June Adds Pressure on Currency
KONTAN.CO.ID - NEW DELHI. India's June trade deficit widened to a record $25.63 billion, pushed by a rise in crude oil and coal imports, from $9.61 billion a year ago, adding to fears of further pressure on the rupee. New Delhi is worried about rising imports after a surge in global crude and commodity prices following the Ukraine war, and rising demand for coal and other goods fuelled by the domestic economic recovery. India's rupee has plunged 6% against the dollar this year, weighed down by broad strength in the greenback and as investors retreated from domestic share markets.