With the rupee plummeting to new lows every day, Indian exporters have something to cheer about. Especially for auto component players, the going has been good, with marquee vendors expressing happiness on the back of the shining dollar bringing cheer to exporters.

Businesses that are transacted in dollars (the IT, apparel, leather or textile sectors) would have made a substantial gain of seven to eight per cent. Those raising funds from the Indian market can rest assured as investments typically pour in with a one-year timeline.

Venture funds are doled out keeping in mind the longer haul. The rupee is not an exception considering that almost every currency has been hit by global macroeconomic conditions. Those who have just raised funds, especially in dollars or about to close a fund, are in the positive sphere. Venture capital money is drawn over time and the exchange rate matters only at the time of withdrawal. Those who have drawn down their tranche of capital in the last two to three months would be gaining six to seven per cent only due to exchange rate fluctuations. The current slide augurs well for those intending to raise money from the domestic market. However, despite gains, the moot point is having a stable currency should be the way forward.