Rupee jumps to 53.66 on Survey estimates - Hindu Business Line

Mumbai, Feb 27:   The rupee jumped 42 paise to 53.66 on the back of higher growth and lower fiscal deficit target announced by the Government in the pre-Budget Economic Survey released today. Finance Minister P. Chidambaram has said that the overall economy is expected to grow in the range of 6.1 to 6.7 per cent in 2013-14. The Government has also vowed to bring down the fiscal deficit to 4.8 per cent in the fiscal year beginning this April. The Indian unit opened marginally higher at 54.04 due to dollar selling by exporters and banks at the Interbank Foreign Exchange market. Further, positive domestic and Asian equity markets also supported the Indian currency. At 1.52 p.m., the rupee was trading stronger at 53.67 to the dollar. It had closed weaker at 54.08 per dollar on Tuesday. Call rates and G-Secs The inter-bank call money rates opened higher at 7.90 per cent from Tuesday's close of 7.75 per cent. Currently, the rates were trading at 7.80 per cent. The widely traded 8.15 per cent government security, which matures in 2022, was trading almost flat at Rs 102.17 from its previous close of Rs 102.16, while the yields remained unchanged at 7.81 per cent. Beena.parmar@thehindu.co.in via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNGNk7zCGhkugFl6Nn3ltT6bQyPENg&url=http://www.thehindubusinessline.com/markets/forex/rupee-jumps-to-5366-on-survey-estimates/article4457843.ece

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