The forex market even did not from the post-Budget weak stock market sentiments on July 6, with the rupee falling 1.4%-its biggest one-day drop in three months-after the government projected a higher-than-expected fiscal deficit target. The finance minister told on July 6 that the fiscal deficit of the government for the current fiscal is likely to go up to 6.8% as against 6.2% in the last year.
The partially convertible rupee closed at 48.56/59 per dollar, which is its lowest close in over a week.
The rupee fell as far as 48.57 during trade, which is its lowest since June 25. The loss was the biggest since it shed 1.5% on March 2, a day before it hit an all-time low of 52.2.
The partially convertible rupee closed at 48.56/59 per dollar, which is its lowest close in over a week.
The rupee fell as far as 48.57 during trade, which is its lowest since June 25. The loss was the biggest since it shed 1.5% on March 2, a day before it hit an all-time low of 52.2.
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