Excellent Knitwear (P) Ltd: The Foreign Currency Derivative Dilemma
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Code : ITF0040
Industry :Textile & Financial Services Organization:IBS Hyderabad |
Period : 2008 Region : India
Countries : India |
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CHALLENGES BEFORE ARMISTRONG:The going had been good for the exporters of Tirupur till early 2007 when the dollar was hovering around Rs.44. But April 2007 saw a reversal of this trend. A dollar of export that had fetched Rs. 44 in March 2007, slipped to almost Rs. 40 in just four months, causing a loss to the exporters... |
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WAY OUT
Even though he was reeling under the uncertainty caused by the falling dollar against the rupee, N Armistrong was confused about complex derivative products. He, therefore, contacted his nephew G. Haris, who had just got an MBA (Finance) degree from a university in the US and Haris came to his rescue. He suggested some simple derivative products. ...
EXHIBITS
Exhibit I :Year-wise Knitwear Exports form Tirupur
Exhibit II :Daily Exchange rate INR vs US$
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