A depreciating rupee could be a saviour for India’s textile exports.
The currency fell 6 percent to INR 75.51 to the US dollar, from INR 71.38 in January.
However traders warn that the impact of the depreciation could be mitigated if currencies from other competing countries also fall.
Some analysts expect the rupee to fall to INR 80, but most feel that a trading range of INR75.5 – 77.5 for the next three months is more realistic.
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