A weaker rupee is often seen as a boost for Indian exports by making goods more competitive globally, but the reality is more complex, the apex exporters' body FIEO said on Friday. Federation of Indian Export Organisations (FIEO) President Ashwani Kumar also said the recent depreciation of the domestic currency against the US Dollar represents a complex economic scenario with mixed outcomes. "A weaker rupee is not a one-size-fits-all solution to boost exports. A strategic, multi-pronged approach is needed to address the root causes of depreciation while mitigating its adverse effects," he said. Explaining it further, he said, that if the rupee depreciates by 2 per cent and the currencies of key competitors decline by 3-5 per cent, Indian exporters lose competitiveness in global markets. "This relative disadvantage erodes any potential price advantage Indian goods might gain," Kumar added. The domestic currency has depreciated over 4 per cent last year. The rupee closed at 86.22 .