Importers use rupee's recovery to increase hedging, data shows

Importers in India last week took advantage of the rupee's recovery against the dollar to hedge their future foreign currency obligations, data showed.Average dollar purchases by importers, beyond the spot date, rose to $1.64 billion last week from $1.14 billion the week before, latest data collated by The Clearing Corporation of India Ltd (CCIL) revealed. https://ift.tt/UL6d7xS