Summary:
more-inThe falling value of rupee vis-à-vis a strong dollar has dampened the spirit of shipping firms as well as the importers who fear of a cascading effect on multiple sectors. ‘Uncertain future’Mr.
Rao, Managing Director of Sravan Shipping Services, says the shipping fraternity are facing an uncertain future due to falling value of the rupee. The prevailing depreciation of rupee has become an issue of serious concern for the importers whereas some of the exporters say it would benefit them. The rise in value of U.S.
dollar has brought cheers among IT exporters in the city. However, market observers say only 20% of exporters, especially those engaged in software marketing would reap the benefits for resorting to ‘hedging practice’..