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Tirupur exporters seek RBI permission for rupee invoicing

Our Bureau

Coimbatore , Nov. 4

The Tirupur Exporters' Association has requested RBI to permit rupee invoicing in view of the rise of the rupee against the dollar.

Reacting to the mid-term review of Credit policy by the RBI Governor, Dr Y.V. Reddy, the TEA President, Mr A. Sakthivel, said the depreciation of the dollar against the rupee had had a "cascading effect on the export efforts". The RBI must permit rupee invoicing by exporters. He also wanted banks to make available foreign currency loans to exporters.

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