Rupee's current level won't hit exports: FIEO

The Federation of Indian Export Organisations (FIEO) doesn’t see exports getting impacted by current level of rupee, reports CNBC-TV18.

The Indian currency gained strength for the fifth straight session to break below the 61-mark against the US dollar. This is the highest level hit by the rupee in the last seven months.

According to FIEO, around 1-2 percent change in exchange rate is normal and most exporters have hedged rupee at 62/USD. However, if the rupee falls below 60/USD there could be a psychological impact and it may start pinching many exporters.

FIEO added that more than fluctuations in exchange rate, slowdown in manufacturing bigger issue for exports. Hence, it is likely that they miss FY14 export target of USD 325 billion by USD 10-15 billion.