Fair
10°CFri :Mostly Cloudy. High: 16 Low: 6

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

Post retirement, PM to move to bungalow vacated by Sheila Dikshit

Post retirement, PM to move to bungalow vacated by Sheila Dikshit

February-28-2014
New Delhi: A sprawling bungalow on Motilal Nehru Place will be the abode of Prime Minister Manmohan Singh once he retires after
Sukhbir Singh Badal takes jibe at Congress, dubs it as 'politically pauper'

Sukhbir Singh Badal takes jibe at Congress, dubs it as ‘politically pauper’

February-28-2014
Muktsar: Describing Congress as “politically pauper”, Punjab Deputy Chief Minister Sukhbir Singh Badal on Friday alleged that Congress was facing severe political
Train fires: Railways to reply SC on use of sub-standard materials

Train fires: Railways to reply SC on use of sub-standard materials

February-28-2014
New Delhi: The Supreme Court on Friday sought response from the Centre and Railways on the allegation that use of sub-standard materials
Dark matter annihilation may be possible

Dark matter annihilation may be possible

February-28-2014
Washington: Researchers have claimed that gamma-ray photons observed from the center of the Milky Way Galaxy are consistent with the intriguing possibility
INS Sindhuratna fire: Police register accidental death case

INS Sindhuratna fire: Police register accidental death case

February-28-2014
Mumbai: On Thursday, police registered a case of accidental death over the fire incident on board the submarine INS Sindhuratna, in which
Electric bus service debuts in Bangalore

Electric bus service debuts in Bangalore

February-28-2014
Bangalore: State-run Bangalore Metropolitan Transport Corporation (BMTC) Friday began operating an electrically-charged bus service to provide eco-friendly public transport to commuters. Initially,