Indian Hotel Industry Profiting From Weaker Rupee, Kamat Hotels Says
India’s leisure hotels are reaping gains from increasing domestic tourism as a rising U.S. dollar has made it more expensive for Indians to take vacations abroad, Vishal Kamat, director, Kamat Hotels India Ltd., told BloombergQuint.
The rupee has depreciated more than 7 percent in 2018 so far against the dollar, and is now trading at 68.21. This compares to an average of 65.11 per dollar seen in 2017.
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