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Hedging against dollar costs IT firms Rs 12 cr
While the rupee depreciation has been ringing cash registers of IT and software exporting companies in Gujarat, the industry has in all lost around Rs 10-12 crore in profits in last one month due to hedging. Having booked export orders at the Rs 47-48 against US dollar level for the month of May, IT firms in the state lost on the opportunity to earn better margins at the current Rs 56 against US dollar
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