| Date: |
28-02-2013 |
| Subject: |
Indian Rupee Climbs To More Than 2-week High Against U.S. Dollar |
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The Indian rupee climbed against the U.S. dollar in early deals on Thursday as traders await country's 2013-14 budget which will be presented shortly.
Finance Minister P Chidambaram is expected to make some announcements for infrastructure development to boost the sagging economy. He is also expected to outline plans to narrow fiscal and current account deficits in the next fiscal.
India's fourth quarter GDP data is also in focus. The growth is expected reach 4.9% from 5.3% in the prior quarter.
The rupee advanced to 53.615 against the greenback for the first time since February 11. The next upside target level for the rupee is seen at 53.00. The pair finished yesterday's deals at 53.8655.
Source : rttnews.com
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