Exporters Shift To Euro Invoicing

If you are an exporter, shift to the euro zone. If an importer, tap the dollar countries. This seems to be the new mantra for the Indian Inc.

The continued weakness of US dollar against major global currencies is pushing Indian exporters to change to euro to get receivables.

While the rupee is appreciating against the dollar, it is depreciating vis-a-vis the Euro.

In the last one month, the Indian unit has appreciated by over one per cent to 46.85 per dollar. But it has dropped by 6.15 per cent to 54.82 against the euro. Hence, an exporter stands to get more rupees if he sells the euro as compared to the dollar.