Import costs rise; LC openings surge 25% in four months
Rising global prices for fuel and various other commodities are driving up import costs. During the first four months of the current FY27 (July–October), letters of credit (LCs) opened for merchandise imports totaled $29.78 billion—a 25% increase compared to the same period of the previous fiscal year. Over the same timeframe, LC settlements grew by 11.38%. As a result, demand... Details
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