India

The Tirupur Exporters Association (TEA) is expressing concern that the recent currency devaluation in China could have a negative impact on India’s garment exports. The group says that the rupee has already depreciated to Rs. 66.65 per U.S. dollar, a trend that could continue thanks to currency devaluations that have also occurred in Vietnam. In light of this, the Reserve Bank of India (RBI) has assured exporters that it is remaining vigilant in regards to the value of the rupee and is doing all that it can to keep the value strong. (Fibre2Fashion)