Most companies, barring a few, can withstand ongoing rupee fall: Report

Most domestic corporates, barring a few, can withstand the ongoing rupee plunge as the share of their dollar-linked earnings largely balance the share of their greenback-denominated debt, says a report.

The rupee fell beyond Rs 70 to the dollar, closing at an all-time low on Thursday at 70.15, while today the market was closed. So far, the rupee has lost close to 9 per cent, making it one of the worst performers among the large currencies.

"A weaker and more volatile rupee would likely result in increased hedging costs for companies, while the same may benefit exporters," an S&P report said on Friday.

"Most corporates can withstand the rupee plunge as the share of their dollar-linked earnings largely balance the share of their greenback-denominated debt. A few of them will be negatively affected, but not severe enough to impact their credit ratings," S&P said.