Indian Currency Gets Feeble by 33 Paise vs. the Greenback

February 18 07:06 2014

rupeeNew Delhi, Tuesday, February 18 – The Indian currency was dealing feeble by 33 paise at 62.18 in opposition to the American unit during trading hours in late afternoon.

The Indian rupee started by 20 paise weak at 62.05 each dollar in opposition to the earlier finish of 61.85 following new requirement of the greenback. Since P Chidambaram, the Finance Minister of India, mentioned a day ago that the fiscal and current account deficits will be managed in the probable range in the current financial year, due to this, the currency of India had ended at a solid position on the first working day of the current week.

Furthermore, while presenting his Interim Budget on February 17, these remarks were made by Chidambaram. In opposition to the earlier finish of 7.05 %, the inter-bank call money rate started up 8.25 %. In opposition to the earlier close of 8.80 %, yield on the 10-year benchmark 8.83 % Government security, which will get matured after nine years from now, lessened a little bit to 8.78 %. However, from 100.14, rate of bond went up slightly to 100.25 and on the other hand, rates of Bond and yields shifted in the opposite track.

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