Indian corporates head for forex options markets as rupee volatility continues

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As the rupee continues its downward plunge, Indian corporates are increasingly looking to hedge their foreign currency exposure using options, rather than forwards, say market participants. The rupee has depreciated by nearly 25% since last July as a result of record highs in the current account deficit and low capital inflows due to a lack of foreign investment. This sharp fall has caught some Indian corporates off guard, due to inadequate forex hedging programmes and has caused them to re-e