Rupee’s November Swoon Casts Shadow on India Unhedged Debts
- India Inc. due to repay $10 billion of overseas debt by March
- About 40%-45% of India’s foreign debt is unhedged: Bajaj Group
Rogoff: India's Modi Takes 'Very Radical' Cash Move
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The rupee’s 2.4 percent plunge in a single month meant an anxious November for treasurers at Indian companies that haven’t hedged their overseas debts.
Indian companies will need to repay about $10 billion of foreign-currency bonds and loans by March 31, 93 percent of that in U.S. dollars, data compiled by Bloomberg show. About $3 billion of debt from borrowers including HDFC Bank Ltd., ICICI Bank Ltd. and refiner Indian Oil Corp. are due by Dec. 31.