Rupee falls ahead of interim budget

Tags: News
The rupee is trading lower at 61.96/97 from its close of 61.9250/9350 on Friday ahead of the interim budget presentation due to start at 11 am.

Dealers largely expect Finance Minister P. Chidambaram to stick to his fiscal deficit aim of 4.8 pct this FY; will also look at market borrowing numbers for FY15.

"Big expenditure numbers will be negative for the rupee," says a dealer with a state-run bank.

Traders will also watch domestic stock and debt markets for clues on the direction of foreign fund flows.

Most Asian share markets edged higher on Monday in a nod to the resilience of Wall Street, but Japanese stocks struggled with both a stronger yen and a surprisingly weak reading on economic growth.

Local shares up 0.5 percent.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The budget is sound in logic; the market is too clever by half

    For a man derided by former finance minister P Chidambaram for his knowledge of economics as only sufficient to be scribbled on the back of a postage

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

Why higher education needs innovation

India is such a great country that it creates complexity ...

Zehra Naqvi

We must overcome the fear of death

It is the biggest irony that the only thing that’s ...

Dharmendra Khandal

Jawai leopards and locals can coexist peacefully

At first glance, the Jawai landscape seems like a large ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture