The Hindu Business Line
Strong rupee could hurt exporters
The rupee on Tuesday recovered sharply to settle at 68.74 against the US dollar with gains of 40 paise amid sustained foreign fund inflows and heavy buying in domestic equities. With exporters still struggling to see a significant revival, appreciation of the rupee may add more pressure. Software, automobile and ancillaries, pharmaceutical and textiles firms could be under pressure, while aviation and select capital goods and consumer durables may benefit due to imports.