The rupee is up 5.24 per cent vis-à-vis the dollar since the start of this fiscal and exporters are running for cover.
Interventions by the central bank have stemmed volatility in the forex market and export sops announced last month are beginning to provide some relief.
Besides, the government now says that the incentives are good enough to meet the $160-billion export target.
Given export sops for Rupee, RBI concessions - 54 per cent of adverse impact absorbed, excessive intervention not good to bolster Rupee. Lot of negative impact on exports by Rupee covered, damage control already done, said Ashwani Kumar, Minister of State for Industries.
Rupee hit exporters, on the other hand, are vociferous that the Rs 1,400-crore relief package announced by the government last month is not enough to take care of the mounting losses.
Source : www.indian-commodity.com
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