• Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead Realasset Realasset
moneycontrol.com

Home » News » Economy

Sep 06, 2013, 10.51 AM | Source: Reuters

Macro factors, market to decide rupee value: Chidambaram

Chidambaram said the current value of the rupee was a matter of concern but that the currency had been due a fall.

Like this story, share it with millions of investors on M3

Macro factors, market to decide rupee value: Chidambaram

Chidambaram said the current value of the rupee was a matter of concern but that the currency had been due a fall.

Post Your Comments

Share Cancel

The value of the rupee will be decided by macroeconomic conditions, finance minister P. Chidambaram said on Thursday, adding that he expected some recovery in the currency after sharp losses since May.

Chidambaram said the current value of the rupee was a matter of concern but that the currency had been due a fall.

"The rupee has to find its value in the market depending upon macro factors," he told parliament.

Chidambaram reiterated that he was committed to meeting a tough fiscal deficit target for the fiscal year ending in March 2014.

"This is a year of fiscal consolidation," he told lawmakers. "I have repeatedly said that the 4.8 percent which we have estimated will be the fiscal deficit is a red line. The red line will not be crossed."

The fiscal deficit was 4.9 percent for the fiscal year ended March 31.

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
Macro factors, market to decide rupee value: Chidambaram

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login