Rupee hits nine year high – exporters concerned
The Indian rupee appreciated to below 40 mark against the dollar for the first time in over nine years and the exporters are very much concerned. In the last three days, Rupee gained 67 paise and ended yesterday at 39.88/99. The Federation of Indian Export Organisations felt that government is taking half-hearted measures to help exporters and the steps taken by the government are not sufficient and it should intervene immediately to protect exporters the government was not doing enough to help the exporters face crisis. According to Nasscom, BPO segment would be the worst hit while large IT firms with robust margins may absorb the impact