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Depreciating rupee brings back smiles to exporters
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Bikky Khosla | 13 May, 2008
After nearly a year of torment and loss due to the appreciating rupee against the dollar, the balance seems to have turned in favour of the exporters. Since April 30 the rupee has dipped and has lost value against the dollar by about 3 percent in the last 10 days finally giving some reason to exporters to rejoice.
And it couldn't have come at a better time. May-June is the time when dealers across the world, especially in the US, place orders. With the slide in the rupee, now exporters can quote more competitive prices if orders are finalised at the current rates.
Moreover, the recent currency trend in the last few days has put the Indian exporters at an advantage against the likes of China, Thailand, and the Philippines. For instance the Chinese yuan has appreciated against the dollar by nearly 7 percent in the past couple of months.
This will give the Indian exporters an added advantage and they can quote a better price for their products against their Chinese counterparts.
Exporters need to cash in on the situation. Considering the volatility of the rupee, it will not be surprising if the rupee starts appreciating again. Exporters need to turn this tide in their favour and work towards receiving advance payments for their orders at the present rate and also fix a post-delivery payment based on this rate.
Certainly this is an opportunity we should not miss. As the old proverb goes 'strike while the iron is hot', so let's strike when the rupee is low.
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strike while the iron is hot
Thomas Victor Rodrigues | Sat May 24 19:16:42 2008
Dear Mr Bikkay Khosla,
I feel that you as a CEO of trade india, is only biased in your opinion about the rupee.Would it not be nice that 300million of Indians just brush over the poverty line, in line with 'China'. Yes, exporters contribute to the GDP of the country. But don't you think that we as Indians should make an effort to elliviate the downtrodden. Trade as always mentioned, by the Smith and other theories, do apply; but is it revelent to the nature of Our Country, which is the largest Democracy ( not even the US) where fedral laws, need not be state laws. and by the way the European Union, is just an extention of the United states where they have a common currency. Needless to say, I would think more on what and where INDIA INC has to put their money. I would had prefered, that India had invested more in the oil companies( almost all govt owned)in R&D in finding an alternative solution when oil was at $25 a barrel, rather than no. Not forgetting oil at $136 a barrel and with the reverses depleting, It is high time people at trade india and Govt of India start thinking in terms of OIL which is a major revenue drainer. The pollution( Global Warming) as conducted by KPMG in 2005 said that, by 2030 India will be the second largest carbon emitter after China. Are we really looking into this. What is a rupee or a dollar? It is only money i.e. in Zimbawe where inflation has crossed one lakh percentage, and we worried that the inflation of approx 7.5%. Can we feed us?????
may june great time
kailash chander | Thu May 22 07:26:28 2008
And that's why our honourable present finance minister,Mr. P. Chidamberam and RBI Governor Mr. Reddy is admired.They know what to do at what time.
start
kartike | Wed May 14 08:17:10 2008
its time to do sam thing for india
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Re: start
Jignesh sabalpara | Thu May 22 05:06:29 2008
hi
I would like to know about what is the situation of future of doler against rupees so pls send me msg on my mail id jignesh_sabalpara22@yahoo.co.in
Thank You
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Re: Re: start
Thomas Victor Rodrigues | Sat May 24 19:21:11 2008
I think you should by Iraqi Dinar -approx- 10 lakhs for INR 35,000. It will grow like wild fine in the next 10 years. If you have the money and patient like Warren buffet.
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non
kartike | Wed May 14 08:16:12 2008
its a new work ? no its a old now u prind a new ropiesh its a like a doler reate , its easy say doler is now in india at just 1 rupie
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
|
78.25
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75.65 |
| Japanese
Yen |
58.85 |
56.85 |
| As on 13 Aug, 2022 |
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