Kolkata, April 6, 2017
The EEPC Chiarman, TS Bhasin, has said a sharp rise in the value of rupee against dollar could neutralise the headway made by the exporters in the recent months.
“We feel the rupee is becoming highly overvalued; the Indian currency has already lost about five per cent in the recent few weeks,” he said.
Hence, the exporers would request the Reserve Bank of India and the government to keep a constant eye on the rupee movement.
The rally in the stock market driven by global liquidity would be a challenge to manage a fine balance, the Chairman said as per a written statement issued by the organisation.
EEPC is the apex engineering export organisation.
[The Hindu Business Line]