Mumbai: Just six months ago, Indian companies and policy makers were grappling with a record-low exchange rate. Now, the rupee’s unexpected rebound is causing fresh problems.
While the currency’s 5.6% jump against the dollar so far this year will help tamp down inflation, it’s posing a challenge for the earnings of India’s exporters. For information technology and drug companies already contending with an American clampdown on H1B visas and a wave of unfavourable inspections by the US Food and Drug Administration, it’s another headache.
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