SRTEPC organises seminar to help exporters against rising rupee
17 Jul '07
3 min read
The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC) organized a Seminar on Forward Contracts & Hedging, Factoring & ECGC Scheme on 13th July 2007 at World Trade Centre, Mumbai to help its member exporters cope with the challenges arising out of the sharp appreciation of rupee against US dollar in recent months.
Addressing the participants at the Seminar, Shri Sanjeev Saran, Chairman of the Council said that the exporters were hard hit by the continuous and unprecedented appreciation of rupee vis-à-vis the US$ resulting in huge losses.
He hoped that the Seminar would help exporters understand how to operate in the days of rupee appreciation without incurring losses by using the techniques of forward contracts, hedging, factoring, etc.
He also said that to survive in the globalised economy exporters have to diversify into new markets and constantly cut costs to remain competitive.
Shri Rakesh Mehra, former Chairman of the Council, said that the timing of the Seminar was appropriate and it would help exporters to protect their margins in an uncertain market where volatility of Indian rupee is likely to continue.
During the Seminar a detailed presentation on Forward Contracts & Hedging was made by the Shri Suvir Davda, Manager Corporate Treasury Sales, HSBC Ltd.
The presentation gave the participants a deeper understanding of hedging strategies, making of successful forward contracts, USD/INR movements, tools available for exporters in the Indian market, foreign exchange regulation governing importers and exporters, etc.
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