51, to remain under pressure, given the continued concerns that

finance minister seeks austerity

canadian goose jacket MUMBAI (Reuters) The Indian rupee slumped to a record low against the dollar canada goose uk black friday on Wednesday as the global risk aversion added pressure on a currency already under fire from the country current account and fiscal deficits. canadian goose jacket

Canada Goose Outlet The rupee, cheap Canada Goose the worst performing canada goose clearance emerging market currency in Asia canada goose coats on sale since March 1, is facing further losses as India struggles with a slew of additional economic challenges, including sliding growth. Canada Goose Outlet

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cheap Canada Goose Finance Minister Pranab Mukherjee pledged on Wednesday to Canada Goose online take action to boost consolidation but said no measures had been worked out, reinforcing these market concerns. cheap Canada Goose

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canada goose coats doubt, the investors are looking for steps from the government in terms of structural reforms, be it in the form of news on goods and Canada Goose Jackets services tax or the direct tax code or some measures that might encourage infrastructure investments. canada goose coats

buy canada goose jacket The rupee fell to canada goose store a record low of 54.52 to the dollar, well below its previous record low of 54.30 hit in December. buy canada goose jacket

Analysts expect the rupee, which ended trade at 54.51, to remain under pressure, given the continued concerns that Greece may pull out of the euro zone and the challenges at home.

Canada Goose Parka A Reuters poll on Tuesday showed analysts expect cheap canada goose uk the rupee to hover near record lows against the dollar for the next month or so, despite already falling nearly 10 percent since its 2012 peak in February. Canada Goose Parka

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Canada Goose Jackets suspect only radical steps by RBI Canada Goose Parka or uk canada goose sudden action by foreign central banks and/or G20 will stop a push through 55 and quite possible higher, he said, referring to the dollar/rupee exchange rate. Canada Goose Jackets

Canada Goose online ANALYSTS BLAME THE BUDGET Many analysts blame the start of the rupee fall on the federal budget for canada goose uk outlet fiscal 2013 unveiled in mid March, canada goose black friday sale which proposed a deficit target of 5.1 percent of gross domestic product that generated market scepticism. Canada Goose online

The government also included a controversial set of taxation proposals for foreign investors.

canada goose Capital flows into Indian debt and equities turned negative in canada goose April, with a canadian goose jacket net $926.8 million leaving the country, down from a peak of $7.2 billion in net purchases in February. canada goose

buy canada goose jacket cheap Mukherjee promise Canada Goose Online of austerity measures on Wednesday failed to convince investors, especially as policy making is expected to stall in the run up to general elections in 2014. buy canada goose jacket cheap

canada goose store government has been only talking about fiscal buy canada goose jacket consolidation but there are no steps at all, nothing being done to reduce the fiscal deficit, said Rupa Rege Nitsure, chief economist at Bank of Baroda. canada goose store

The RBI thus faces a steep battle in defending the currency, even as a weaker rupee threatens to push up inflation, though traders say they do not rule out more aggressive actions.

canada goose deals Liquidity would be a concern, though the central bank is expected to step up bond purchases via open market operations should it sell dollars more aggressively in markets. canada goose deals

Canada Goose sale Additional reporting by Nigam Prusty; Writing by Rafael Nam; Editing by Aradhana Aravindan, Neil buy canada goose jacket cheap Fullick and Ron Popeski Canada Goose sale.

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