Top Story

Focus Weak rupee, higher duties hurt India demand for PE, PP imports

By Muhamad Fadhil

MUMBAI (ICIS)--India’s appetite for polyethylene (PE) and polypropylene (PP) of foreign origin has weakened in the wake of the rupee plunge, and amid higher duties on polyolefin imports, market sources said on Wednesday.

The Indian rupee (Rs) is currently trading in the high Rs58 to the US dollar, staying near the all-time low of Rs58.98, which was hit last week. A weak currency makes imports more expensive.

more >>