Foreign Currency Revenue of Tech Companies in India

 

The rupee has been sliding ever since China decided to re-set the yuan reference rate. From about 63.76 against the US dollar in the first week of August 2015, the currency is now at 66.5 – down 4 %

In the June quarter, the average rupee rate against the dollar was 63.63, down from 59.87 in the same period last year, but margins of tech companies narrowed by about 1.1 % points in this period.

In the last 12 months, despite the rupee depreciating 6.5 % against the dollar, it has appreciated by a sharp 11 % and 14 % respectively, against the British pound and the euro.