Synopsis The country's current account deficit (CAD) widened to 4. 4 per cent of the GDP in the quarter ended September from 2. 2 per cent in April-June due to higher trade gap, as per latest data of the Reserve Bank of India. In the opening trade on Tuesday, the rupee depreciated 12 paise to 81. 64 against the US dollar, weighed down by significant foreign fund outflows and a muted trend in domestic equities. Agencies Representative image The Indian rupee may remain under depreciation pressure on account of plateauing of exports and subsequent widening of the current account deficit, said the Economic Survey 2022-23 tabled in Parliament on Tuesday. It said the "risks to the current account balance stem from multiple sources". The country's current account deficit ( CAD ) widened to 4. 4 per cent of the GDP in the quarter ended September from 2. 2 per cent in April-June due to higher trade gap, as per latest data of the Reserve Bank of India . In the opening trade on Tuesday, the rupee depreciated 12 paise to 81. 64 against the US dollar, weighed down by significant foreign fund outflows and a muted trend in domestic equities. Amid geopolitical situation and tightening of monetary policy by the US Fed , the Indian rupee has remained under pressure and even breached the 83-mark to a US dollar. According to the survey, while commodity prices have retreated from record highs, they are still above the "pre-conflict" (Russia-Ukraine war) levels. Strong domestic demand amid high commodity prices will raise India's total import bill and contribute to unfavourable developments in the current account balance, it said. "These may be exacerbated by plateauing export growth on account of slackening global demand. Should the current account deficit widen further, the currency may come under depreciation pressure," said the key document released a day before presentation of Union Budget 2023-24. The survey is a government commentary on the economic developments and related aspects during 2022-23. Don’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp. click here! Tuesday, 31 Jan, 2023 Experience Your Economic Times Newspaper, The Digital Way! Read Complete Print Edition » Front Page Pure Politics Companies Brands & Companies More Adani Stocks Stay Under Pressure in Choppy Mkt India’s stock indices swung between gains and losses in choppy trading on Monday as Adani shares dropped for the third straight day, following the Hindenburg Research report. Abu Dhabi-Based IHC Commits $400m to Adani Enterprises FPO Additional investments of $1-1. 1b likely from Middle East, Southeast Asia entities. CXOs may Get Average 9. 1% Pay Hike in ’23: Survey India Inc’s top-level executives including chief executives are likely to get a 9. 1% average salary hike in 2023, according to Aon’s latest Executive Rewards Survey. This is a slight drop from average salary increment of 9. 7% last year, when salary hikes saw a correction post-pandemic, but were higher than pre-Covid increment of 8. 1% in 2019. Read More News on us fed reserve bank of india parliament cad india bank of india (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets. com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds . ) Download The Economic Times News App to get Daily Market Updates & Live Business News. . . . more less Pick the best stocks for yourself Powered by Weekly Top Picks: Eight stocks with consistent score improvement and upside potential of up to 40% 9 mins read 4 stocks with 5 % to 8. 87% dividend yields and continuous dividend payments for 7 years 7 mins read Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42% 9 mins read What do Q2 LIC results indicate for other Insurance companies? Two Life and 3 non-life Insurance players with “buy” and “strong buy” ratings 3 mins read Large cap stocks with upside potential of more than 25% 4 mins read 5 stocks for a high dividend yielding portfolio 8 mins read Eight midcap stocks, 2 with“ Strong Buy” and 6 with “Buy” recommendations with potential upside of up to 35% 7 mins read Six high ROE and low PEG ratio stocks, right combination for wealth creation 8 mins read View More Stories Subscribe to ETPrime.