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Weakening rupee to boost

DNAHM120902 | 5/17/2018 | Author : Keyur Dhandeo | WC :347 | Business & Economy



Over seven per cent depreciation of the rupee against the dollar in the global market since January has elated local players in sectors like pharmaceuticals, chemicals, dye-stuffs and ceramics, where the export component is higher. However, players with lower exports but reliant on imported raw materials, such as those in the foundry sector, may be net losers. Players say that hedging also minimised net gains and importers of Indian goods try to bargain as a weaker rupee widens profit margins.
The rupee has depreciated from about 63.50 per dollar in January to 68 per dollar on May 15. Players said that fluctuation in currency is not good for small companies dependent heavily on imported raw materials. These mainly include sectors such
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