Don't bet on a rupee devaluation
Steven Philip Warner | August 2016 Issue | The Dollar Business There is no overnight waking up to a shock like the one that London witnessed when UK bowed out of EU. Stock traders on Paternoster Square, bankers on Threadneedle Street, high-end shoppers at the Royal Exchange, pub-hoppers from Wapping to Hampstead and beyond – all of them are still finding it difficult to pause conversations on the tomorrow for London, England and Europe. And for the pound. So what started as a promise-triggered campaign by UK’s erstwhile PM to stay in a flawed Union, ended with Russia smiling quietly, US scratching its head for having lost its closest ally in a critical bloc and much of South Asia – including India ...
Mixed impact of rupee fall on textile exports: ICRA
The Dollar Business Bureau Depreciation of the rupee will not have a broader implication on India’s textiles exports but will bring a competitive pressure from China due to devaluation of Chinese currency, according to the Investment Information and Credit Rating Agency of India (ICRA). China’s decision to devalue the Yuan on August 10, 2015, has led to depreciation in the currencies of other apparel exporting countries, including Indonesia and Vietnam. Any fluctuation in their currencies will affect export competitiveness in the market. "As China’s Yuan has depreciated more than the Rupee and given that China enjoys dominant position in international export markets, India will see increased pricing competition which will affect the profitability of Indian exporters," ICRA said in statement. The credit ...
