Mumbai: A sustained weakening of the rupee will be credit negative for companies that generate revenue in the Indian currency and rely heavily on US-dollar debt, although most companies have buffers to protect against such swings, Moody’s Investors Service said on Thursday. On Thursday, the rupee closed at 74.04 against the US dollar. “Most companies have protections to limit the effect of currency fluctuations. Therefore, weaker credit metrics under a scenario in which the rupee depreciates a further 15% against the dollar, Moody’s said, can be accommodated within the companies’ current rating levels. Share ViaSubscribe to Mint Newsletters * Enter a valid email * Thank you for subscribing to our newsletter.

Source: Mint April 29, 2021 11:45 UTC