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TCS hedges $1.5 bn to tackle rupee fluctuations

TCS said it has hedged funds of about 1.5 billion dollars to create a safeguard against the fluctuations in the rupee movement.

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NEW DELHI: Country's largest software exporter Tata Consultancy Services (TCS) on Monday said it has hedged funds of about 1.5 billion dollars to create a safeguard against the fluctuations in the rupee movement.
    
Company CEO S Ramadorai said, "We have hedged for about $1.5 billion. I believe one has to run business on fundamentals and not on currency fluctuations".
    
He also said it is very difficult to predict the rupee movement as in the last one-and-a-half months, rupee has taken a different turn than what it was six-to-seven months ago.
    
Asked about the time period when the company aims to grow to 10-billion dollar revenue from the current six billion dollars, he said, "We do not have a time limit".

 

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