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    HomeNewsBusinessEconomyFactors underpinning rupee fall part of rating: Moody's

    Factors underpinning rupee fall part of rating: Moody's

    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.

    August 20, 2013 / 12:18 IST

    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.

    Also read: Rupee breaches 64/dollar; down over 5% in last 6 days


    "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.

    first published: Aug 20, 2013 09:38 am

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