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RBI asked to address issue of appreciation of rupee
PTI - Coimbatore
The Tirupur Exporters’ Association (TEA) has expressed
hope that the RBI governor Dr Y V Reddy would address the serious issue worrying
the exporters regarding appreciation of the rupee against the dollar, which
has had a cascading effect on the export efforts.
Welcoming the initiative to simplify the procedures
and complete flexibility in micro finance structure announced in the mid-term
review of the monetary and credit policy, the TEA president Mr A Shaktivel,
however suggested that exporters might be permitted rupee invoicing and the
banks must make available foreign currency loans to exporters to stem the tide
caused due to erosion in the dollar value vis-a-vis the rupee.
The policy looked up to garner a higher GDP growth
and improved macroeconomic environment with positive outlook on both th domestic
and external fronts.
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