New Delhi, Jan 23 (PTI) Moody's Ratings on Thursday said the Indian rupee has depreciated by around 5 per cent in the last two years and has fallen by 20 per cent in the last five years making it one of the weakest performing currencies in South and South East Asia.

Of the 23 rated Indian companies, Moody's assessed only six to be exposed to the effects of dollar strength, but these companies have sufficient mitigating factors.

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These companies are the three oil refining and marketing companies (OMCs), Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation (IOCL), building materials producer UltraTech Cement, Bharti Airtel and ride sharing company ANI Technologies Pvt Ltd.

"While the rupee has depreciated by only around 5 per cent in the last two years, it has fallen over 20 per cent since January 2020, making it one of the weakest-performing currencies in South and Southeast Asia," Moody's said in its report on Corporates '? South and Southeast Asia Emerging Markets.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)