The survey analysed responses from 150 managing directors, board chairs and chairs of subcommittees in India to understand their business priorities for 2024 and their perception around the board refresh.
Rating agency Moody s said on Thursday most rated Indian companies can manage the rupee’s depreciation due to hedge and part of earning in hard currency. The currency’s sustained weakening against the US dollar will be credit negative Indian companies that generate revenue in rupees, but rely heavily on dollar debt to fund operations. This will lead to significant dollar-based costs, according Moody s. Most companies have currency protections, with nearly half of Moody s rated portfolio benefiting from natural hedges. April 27, 2021, the Indian rupee closed around 74.66 against the US dollar, or about three per cent lower than levels in mid-March.