Rupee'S Fall Affects India'S Exporters Of Clothing
In recent months, textile and garment exporters in India have been overjoyed. Orders in major markets have improved in the past 3-4 months, such as the US and Europe. However, the euro fell against the rupees, leaving them suddenly unable to sleep at night.
Over the past three months, the euro has fallen by nearly 8.5% against the India rupee, and most exporters do not have the ability to hedge against currency fluctuations.
Garment exporters receive orders approximately 90-120 days before the date of delivery. Most orders are received 90-120 days ago. When accepting orders, they consider the exchange rate and raw material cost at that time.
The decline of the euro means that garment exporters will lose about 7 - 8%, and profits are very low at this time. Therefore, the road to recovery is still long.
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