Faridabad medium and small enterprises (MSMEs) have decided to take financial lessons from global banks operating in the region – like Citibank and ICICI – to get a hang of the financial tools. It is useful in prevailing scenario of falling rupee against dollar. The initiative is expected to boost the morale of 20,000 MSMEs of Faridabad.
“We would be making MSMEs aware about the factors that affect rupee value in the global market,” informed a Citibank official. Citibank experts are sharing different techniques of hedging and the percentage share of the money which can be hedged (normally 20- 25 percent). “We are teaching MSMEs here about the role of foreign exchange reserve, demand-supply constraint, monetary watch and how government decisions affect foreign exchange flow in India as these factors affect the business volume of both exporters and domestic players,” the official said.
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