Indian rupee touched lows, however not everyone is concerned
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The Indian currency has fallen more than 7 percent so far in 2022 pushing up inflation and wrecking margins for importers.
Chakradhar Chemicals, a medium-sized organization that manufactures micronutrients and fertilizers and farm equipment, has conquered a ton up so far this year.
An increase in the price of imported raw materials - metals and plastic - and a diving rupee sliced its net revenues drastically.
However, when asked if there is a panic now that the rupee remains at the limit of 80 to a dollar, and may before long fall further, Managing Director Neeraj Kedia says he isn't losing sleep over it.
Kedia says if the rupee falls further in future, he might need to think about overall profit for a couple of months, however, the long-term impact on his business will be negligible.
The rupee has fallen quickly to 79.97 a dollar - from 77.64 toward the end of May and 74.55 on February 23, a day prior to Russia invading Ukraine.
But, India isn't the only one in such fights and economies across the globe wind up wrestling with depreciating currency in the face of rising inflation.
There isn't anything sacrosanct about 80 rupees to a dollar and a fall below that psychologically pivotal level may not add fundamentally to India's current illnesses.
It will add to some inflation pressure however the deterioration impact on inflation isn't excessively enormous … The rupee is still overvalued.
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