Depreciating value of rupee signaling good news for exporters: Expert

New Delhi, June 28 (KNN) After struggling for quite some time due to non-refund of claims under GST it seems to be a good times for exporters. Apart from getting refunds under GST, exporters are benefitting from the depreciated value of rupee. Rupee value today was at 19^th month low.

Rupee collapsed to a record low of 69.10 against the US dollar by plunging 49 paise in early trade today as the yuan fell, crude oil rose and US president Donal Trump pressed countries including India to stop oil imports from Iran.

Talking about this with KNN, former president of FIEO, SC Ralhan said “With the fall in value of rupee, MSME exporters from India will definitely benefit but we can’t rely on this rate as it is very volatile."

He said that the currency floats between 67 -68, and today it touched 69 so definitely it is a good news for exporters as this will encourage exports.

But we can’t pass on the benefits to our customers because the currency is very volatile, he added.

The currency impact would be an advantage to Indian exporters if it persists for long as competitiveness of exports depends on exchange factor also including other factors.