As the nation votes to elect the next parliament, the Indian Rupee which is already down about 1% this year, is forecasted to drop nearly 2% by May-end, signifying that the upcoming elections are a clear risk to the economy. With the amount of money spent on holding a general election, the downfall of rupee comes as another significant hit to the Indian economy.
The Indian currency’s feeble start to 2019 provides a hint of how it will perform in the upcoming year, a Reuters poll confirmed, citing precariousness regarding general elections and a potential trade war with the U.S. Last year in October, the currency dropped around 10% and hit an all-time low of 70.40 against a dollar, validating its worst performance since 2013. The performance is driven by a sell-off in emerging markets and a widening fiscal deficit as oil prices rose.
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Invoice discounting helps fill the gap in working capital cycles. Through KredX, we have achieved customer satisfaction due to on-time delivery
KredX has helped us unlock the potential of our business receivables shortening our cash-to-cash cycle, thereby giving us business owners flexibility to work more efficiently.
KredX helped me smoothen out my business’s regular operations. With KredX’s bill discounting platform, we now get funds immediately thus reducing the working capital interest as opposed to bank loan.