- September 9, 2022
- Posted by: Stratford Team
- Category: Economy
An attendant at a fuel station arranges Indian rupee notes in Kolkata, India, August 16, 2018. REUTERS/Rupak De Chowdhuri
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MUMBAI, Sept 8 (Reuters) – Indian exporters should wait for the dollar to pullback from its recent high before hedging their future receipts in currencies other than the greenback, analysts said on Thursday.
Exporters that have shipped goods and expect to earn euros, pounds and the yen are eyeing ways to manage the currency risk as the dollar surges against its major peers, at the same time that the rupee has been held in a narrow range by the Reserve Bank of India (RBI).
The dollar index is hovering near its highest level in 20 years, thanks to the Federal Reserve’s aggressive monetary policy tightening. Meanwhile, the rupee has managed to avoid crossing 80 per dollar again due to the RBI’s intervention.
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