Rupee’s fall to near record low fuels more hedging by exporters
Indian exporters last Monday and Thursday hedged a total $3.6 billion via forwards, data from clearing house CCIL shows. The forex markets were off on Tuesday and Wednesday. That means exporters hedged an average of $1.8 billion in two sessions, a 60% jump from how much they hedged in August prior to rupee’s decline below the 83 level.
