Moody's Ratings in its report on Corporates' South and Southeast Asia Emerging Markets has said the Indian rupee depreciated by around 5 per cent in the last two years and has fallen by 20 per cent in the last five years (since January 2020) making it one of the weakest performing currencies in South and South East Asia.
Of the 23 rated Indian companies, Moody's assessed only six to be exposed to the effects of dollar strength, but these companies have sufficient mitigating factors.
These companies are the three oil refining and marketing companies (OMCs), Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation (IOCL), building materials producer UltraTech Cement, Bharti Airtel and ride sharing company ANI Technologies.
