scorecardresearchSteep fall in the rupee has pushed Indian importers to hedge extra

Steep fall in the rupee has pushed Indian importers to hedge extra

Updated: 25 Aug 2022, 08:19 AM IST
TL;DR.
Worried about India's precarious external accounts and the weakening rupee, domestic importers are hedging a lot more of their currency exposures than they are required to.
The recent data shows that nearly $69 billion has been wiped out from the record high foreign exchange reserves of $642.45 billion on September 3, 2021.

The recent data shows that nearly $69 billion has been wiped out from the record high foreign exchange reserves of $642.45 billion on September 3, 2021.