Currency declined over widening trade deficit

 Hit by the double whammy of rising global crude prices and worsening trade deficit, the currency
market witnessed volatility, with the rupee plummeting to a fresh two-week low of 64.04 against the
U.S. dollar.

 Recording its biggest single-day crash in eight months, the Indian currency lost a whopping 55
paise or 0.87%.

 Sentiment was impacted after the trade deficit widened to a three-year high on higher oil and gold
imports. The shortfall in December increased to $14.88 billion, up about 41% year-on-year.