Weakening rupiah is a beacon of hope for recently downgraded IT sector

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The decline in the rupee was expected, given several trends. USD hardens on Fed actions. Sales by foreign portfolio investors (REITs) continue. While export growth is good, the trade deficit has widened, partly due to higher energy prices and partly due to a larger overall import bill as the economy straightens. A weaker rupee has some advantages, especially as the yuan has lost value. It offers some protection against cheap imports and makes exporters more competitive.


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First published: Mon 09 May 2022 21:13 IST


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