India Min:Impact Of Rising Rupee On Exports Likely From July
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India Min:Impact Of Rising Rupee On Exports Likely From July NEW DELHI -(Dow Jones)- The Indian rupee's strength against the U.S. dollar still remains a cause for concern and its impact on exports is likely to be felt from July, India's Commerce and Industry Minister Kamal Nath said Monday. "The realization (of export earning) is getting less," Nath told reporters on the sidelines of an industry event. However, he said the government was still confident of meeting its export target of $160 billion during the current fiscal year that started April 1. The Indian rupee touched a new nine-year high against the U.S. dollar last week on the back of strong foreign capital inflows in to the country. On May 28, the dollar fell to INR40.28, its lowest level against the Indian currency since May 1998.
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