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HindustanTimes Wed,24 Sep 2014

Rupee falls ahead of interim budget

Reuters  New Delhi, February 17, 2014
First Published: 10:01 IST(17/2/2014) | Last Updated: 12:56 IST(17/2/2014)

The rupee is trading lower at Rs. 61.96/97 on Monday from its close of Rs. 61.92 on Friday ahead of the interim budget presentation due to start at 11 am.

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Dealers largely expect finance minister P. Chidambaram to stick to his fiscal deficit aim of 4.8% 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%.


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