India's private defence firms had last campaigned for ERV protection after being bruised by the rupee's f
India’s private defence firms had last campaigned for ERV protection after being bruised by the rupee’s fall from Rs 44 a dollar in October 2010 to below Rs 56 just a few months later
Topics
defence firms | Exchange rates | Exchange rate protection
Ajai Shukla |
Last Updated at July 19, 2022 21:19 IST
The exchange rate of US dollar vis-à-vis Indian rupee has fallen to Rs 79.74 to the dollar, down from Rs 74.55 a year ago. The 6.96 per cent fall in rupee against dollar in just one year is making private Indian defence companies consider petitioning the Ministry of Defence (MoD) for protection against exchange rate variation (ERV).
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First Published: Tue, July 19 2022. 21:11 IST
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