This analysis investigates how exchange rate fluctuations affect the financial performance of Indian textile export firms, suggesting important implications for exporters.
Fluctuations in exchange rates have a very important role in determining the performance of export-oriented firms. This paper attempts to investigate the effect of exchange rate variations of the chosen export countries USA, Bangladesh, UAE, UK and Germany on the share price and export volume of three Indian textile firms, namely Arvind Ltd, Vardhaman Ltd and Nitin Spinners Ltd. The paper is based on secondary data and uses correlation and regression analysis to verify the relationship between exchange rates and firm performance. The findings indicate that Arvind Ltd has no significant relationship with the chosen currencies, whereas Vardhaman Ltd and Nitin Spinners Ltd are significantly affected by the major currencies like the US dollar and UAE currency. The paper further reveals that the chosen currencies have a significant impact on the export volume of Nitin Spinners Ltd, whereas Arvind and Vardhaman export volumes are found to be unaffected.
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Prem et al. (2026) studied this question.
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