Rupee Weakest in Southeast Asia: Moody's
By Rediff Money Desk, New Delhi Jan 23, 2025 17:44
Moody's reports Indian rupee among weakest in Southeast Asia, depreciating 20% since 2020. Impact on Indian companies assessed.

Illustration: Uttam Ghosh/Rediff.com
New Delhi, Jan 23 (PTI) Moody's Ratings on Thursday said the Indian rupee has depreciated by around 5 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.
"While the rupee has depreciated by only around 5 per cent in the last two years, it has fallen over 20 per cent since January 2020, making it one of the weakest-performing currencies in South and Southeast Asia," Moody's said in its report on Corporates '? South and Southeast Asia Emerging Markets.
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.
"While the rupee has depreciated by only around 5 per cent in the last two years, it has fallen over 20 per cent since January 2020, making it one of the weakest-performing currencies in South and Southeast Asia," Moody's said in its report on Corporates '? South and Southeast Asia Emerging Markets.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Srestha Finvest
- 0.57 ( -9.52)
- 60265410
- Vodafone Idea L
- 8.27 (+ 0.73)
- 44071594
- YES Bank Ltd.
- 17.67 ( -0.56)
- 16081247
- G G Engineering
- 1.06 ( -4.50)
- 15019273
- Remedium Lifecare
- 3.97 (+ 4.75)
- 11827509
MORE NEWS
Choice Broking Acquires Arete Capital, AUM Hits...
Choice Broking has acquired wealth management firm Arete Capital Services, expanding...

India's Exports to US Surge 39% in January
India's exports to the US rose by 39% in January 2024 to USD 8.44 billion, driven by...

India's Gold Imports Surge 40.79% to USD 2.68...
Gold imports in India rose significantly in January due to increased domestic demand,...