Fluc­tu­a­tion in Cur­rency

Perfect Sourcing - - Cover Story -

The ap­parel ex­port in­dus­try was also af­fected as the ru­pee went stronger against dol­lar. The strength of the In­dian ru­pee (INR) ver­sus USD as re­flected in the 3-month USD-INR fu­tures trad­ing at around 65.19 con­strained the price com­pet­i­tive­ness of the In­dian tex­tile ex­porters. Over 70% of In­dia’s tex­tile and ap­parel ex­ports are dol­lar de­nom­i­nated. Strong ru­pee and de­pre­ci­a­tion of cur­ren­cies of com­pet­ing coun­tries like China, Bangladesh and Viet­nam caused slow­ing of ex­ports in 2017. Chi­nese Yuan de­pre­ci­ated by 13%, Bangladesh Taka by 6% and Viet­nam Dong by 7% whereas In­dia’s ru­pee hard­ened by al­most 6% over the last 3-6 months against all ma­jor cur­ren­cies.

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