Related Keywords: apparel importers, rupee depreciation, textile export, textile import, yuan devaluation
The recent devaluation of the yuan has led to a weakness in the rupee against the dollar. So far in 2015-16, the rupee has depreciated 13.9 per cent and 6.6 per cent against the euro and dollar, respectively.
The depreciating rupee has prompted textile and apparel importers abroad to renegotiate the terms of their contracts with Indian exporters. Now, new contract orders are being deferred till the Indian currency stabilises.
