Weakening rupee adds pressure on coal importer's margin

The rupee breached the 53 per dollar mark to open at 53.50 and went down to an all-time low of 53.70 to a dollar.

Weakening rupee adds worry to coal importers as it has made imports expensive further by 2-4%. With rupee likely to correct further Importers have hold their purchases.

” We are facing one of the worst times; power and steel sectors are not doing good.Above that rising imports cost will certainly add the pressure to margins” said a coal importer based at Nagpur.