The Indian rupee rose on Friday,
The Indian rupee rose on Friday, tracking stronger domestic stock markets, after the Union Budget presented by Finance Minister Pranab
Forex Converter
Convert
Rs.To
Mukherjee earlier in the day raised expectations it would boost consumption.
The partially convertible rupee was at 46.1250/1350 per dollar, off an intraday high of 46.1125, and stronger than Thursday’s close of 46.3950/4050.
The benchmark BSE share index was trading up more than 1 per cent, after rising more than 2 per cent earlier in the day.
In the federal budget, India revised its fiscal deficit projection for 2009/10 to 6.9 per cent of GDP from 6.8 per cent, and said this will be cut to 5.5 per cent in 2010/11.
One-month offshore non-deliverable forward contracts were at 46.18/28, weaker than the onshore spot rate.
In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange and MCX-SX were both quoting at 46.2525.
News beuro,
- Last Modified: February 26, 2010
- Filed Under: Latest News, MARKETS, NATION, WORLD
Leave a Reply
You must be logged in to post a comment.