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RMG exporters demand exchange rate security
23
Jan '10
With possibilities of a stand-by deal with the International Monetary Fund (IMF) in the offing, the Turkish Lira is increasing in value against other major currencies. This is raising concern amongst the textile and apparel exporters' community.

Exporters from the sector have requested the government to protect them and provide them a shield, to reduce the impact of the fluctuating domestic currency.

Experts aver that there is an air of optimism with regards to apparel exports from the country, due to the rapidly improving economic situation in their global markets, but the fluctuating Lira could prove to be a party-pooper.

Another expert is of the opinion that discussions on a possible IMF deal have influenced exports and demanded an exchange rate guarantee to protect the sector and that Central Bank of Turkey should start purchasing foreign currency to stabilise the Lira.

Fibre2fashion News Desk - India

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