NEW DELHI: The external value of the Indian rupee currently supersedes its internal strength and the resulting mismatch is hurting exporters, whose competitive edge gets hit with the declining value of the dollar vis-a-vis the rupee, industry lobby Assocham said on Sunday. "So, clearly the external value of rupee has strengthened quite," it added.The Associated Chambers of Commerce and Industry of India said that, on the other hand, the rupee has weakened at least in reverse proportion to the Consumer Price Index (CPI), or retail inflation, that is inching up all the same. "Yes, inflation is down; but it is still inflation and not disinflation or deceleration in prices. "Exports have shown growth of 4.39 per cent to $23.56 billion in June 2017, as compared to $22.57 billion a year ago. But this growth had peaked to 20 per cent in April this fiscal," the statement said.Moreover, thanks to declining value of the dollar in rupee terms, during June 2017 exports showed a negative growth of 0.04 per cent, it added.

Source: Economic Times August 06, 2017 12:00 UTC