Home / Knowledge / News / Textiles / Textile industry wants stable currency
Textile industry wants stable currency
21
Sep '11
Textile entrepreneurs in Indonesia want their country's currency rupiah to be stable so that they can take better decisions.

They say the risk of doing business increases if the currency is volatile. While the strong rupiah will help companies decrease the cost of importing goods, it would increase the cost of companies exporting goods, they add.

Indonesian currency is currently under pressure as offshore investors are selling it.

Indonesian Textile Association (API) has said the country's textile industry would like the rupiah to stabilize around 9,000 against the US dollar, as at that level it must be good for both importers and exporters.

API added that favourable dollar would help buy raw materials from abroad, while favourable rupiah would help bring more foreign-exchange revenue from exports.

API estimates the revenue from textiles and textile item exports to increase to US$ 12.5 billion this year, up 13 percent from 2010. During January-July 2011, Indonesia has exported textiles worth US$ 8.2 billion, showing a year-on-year increase of 24 percent.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 26th May 2017

Lenzing unleashes new eco-friendly fibre

There's a new eco-friendly fibre on the anvil—Austrian speciality...

Apparel/Garments | On 26th May 2017

Benetton seeks approval for FDI in single-brand retail

Global fashion brand Benetton Group, has sought Indian government's...

Apparel/Garments | On 26th May 2017

Walmart to conduct GST workshops for SME suppliers

With the objective of supporting its small and medium-sized (SME)...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search