Largest ratings agency Crisil today warned the 4 per cent appreciation in the rupee will impact the June quarter sales of exporters by up to 3 percentage points and profits by up to 1.50 per cent. Gems and jewellery, and the information technology sectors will have minimal impact of the rupee strengthening as they have import outgoes and extensive hedging, respectively. "While a majority of exporters have weathered the forex storm so far, any significant rise in the rupee from here would impact credit profiles of exporters in the vulnerable sectors," its senior director Anuj Sethi said. He added that the rupee s relative strength versus competing currencies, and business challenges constrain the competitiveness of exporters in some sectors. (This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)

Source: dna July 11, 2017 12:45 UTC