Re Worst Hit In South East Asia: Moody’s
Home currency depreciated by 5% in last 2 yrs, 20% in last 5 yrs
Re Worst Hit In South East Asia: Moody’s
New Delhi: Moody’s Ratings on Thursday said the Indian rupee has depreciated by around five per cent in the last two years and has fallen by 20 per cent in the last five years making it one of the weakest performing currencies in South and South East Asia.
Of the 23 rated Indian companies, Moody’s assessed only six to be exposed to the effects of dollar strength, but these companies have sufficient mitigating factors. These companies are the three oil refining and marketing companies (OMCs), Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation (IOCL), building materials producer UltraTech Cement, Bharti Airtel and ride sharing company ANI Technologies Pvt Ltd.
