Partly Cloudy
23°CFri :Mostly Sunny. High: 29 Low: 18

Moody’s says factors underpinning rupee fall part of Baa3 rating

Moody's says factors underpinning rupee fall part of Baa3 rating

Mumbai: Moody’s India sovereign rating of Baa3 incorporates macro-economic challenges of weaker growth, a fall in the rupee and the twin deficits, credit ratings analyst Atsi Sheth said on Tuesday.

“So while (the) rupee depreciation may be a new development, the factors that underpin it are not, and have been incorporated into India’s Baa3 rating,” Sheth said in an e-mailed response to Reuters.

For India to meet the fiscal deficit target will be “very challenging” this year, Sheth added, citing lower-than- anticipated growth and a steep fall in the rupee.

The rupee was trading at a record low of 63.69 to the dollar on Tuesday, as it continued to be most vulnerable to the exodus of foreign capital.

 

Top Stories

pioneer-624x351.png

Pioneer launches AVIC-F60BT premium in-car navigation and entertainment system

July-25-2014
In-car entertainment systems company Pioneer has launched its premium audio-video system, the Pioneer AVIC-F60BT, in India. Pioneer, which has already promised to
INSRANCE_THINKSTOCK-624x416

49% FDI in insurance: What it means for customers

July-25-2014
The Cabinet’s approval to increase the FDI limit in the insurance sector to 49 percent is expected to benefit the companies first
images

Businessman buys Rajesh Khanna’s bungalow ‘Aashirwad’ for Rs 90 crore

July-25-2014
MUMBAI: Bollywood superstar Rajesh Khanna’s Carter Road bungalow, popularly known as ‘Aashirwad’, is being sold to a city industrialist. The landmark sea-facing
Kick-Review-650

‘Kick’ review: Strictly for Salman Khan fans

July-25-2014
When Sajid Nadiadwala decided to step into the director`s shoes, he pulled all stops. He has invested everything he could to make
sanjita-gold-740

Commonwealth Games: Lifters Sukhen, Sanjita win gold as India make rousing start

July-25-2014
Glasgow: Sukhen Dey and K Sanjita Chanu stole the limelight by clinching a gold each in weightlifting, as India launched their campaign
M_Id_477210_FM_Arun_Jaitley

India will not have to wait for bringing back black money: Jaitley

July-25-2014
Finance Minister Arun Jaitley today said that India will not have to wait for long for bringing back the black money. He