Diamond industry on balancing act as Rupee depreciates

Diamond industry in India seems to be doing a balancing act by limiting the imports of rough diamonds and clearing inventories of polished diamonds in overseas markets so as to cash-in from the appreciation of the US greenback. Jade Necklaces
Indian Rupee had fallen to its record low levels earlier this week at Rs 52.73 against a US dollar. The Indian currency has seen its sharpest fall against dollar over the past three months. Jade Jewelry This prompted diamantaires in Surat, India's diamond hub to consider reducing imports and make all efforts to clear the existing inventories take maximum benefit from the currency fluctuations. Jade Rings Uncertainty looms for the demand in February-March, for which purchases of raw material has to be made in November-December. Jade Bangle "Exporters are maintaining a balance between imports and exports.