Indian rupee fell to a nine-month low on Thursday against the US dollar. After touching an intra-day low of 62.25, the rupee, however, recovered to close at 61.94. Software exporters earn more than 60 per cent of their revenue in dollars and gain every time the greenback strengthens as their expenses are almost entirely in rupees. A weaker rupee also makes IT majors such as TCS, Infosys, Wipro and HCL Tech more competitive.
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.