Diamond companies, banks in a tussle as Rupee dips

Banks fix the overall export credit in rupees. However, with a depreciating currency eating into the quantum of loans sanctioned by local banks, diamond firms are left with less and less money for import of rough stones which are cut in India. More than 90% of the world's diamonds are cut and polished in India before the polished ones are shipped to world's leading markets like the US and China.

from Banking/Finance-Industry-Economic Times https://ift.tt/wNg3dQ8