UPDATE 1-India's Infosys: currency moves to impact Q3 revenue

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NEW DELHI, Nov 17 (Reuters) - Infosys Technologies (INFY.BO: Quote, Profile, Research), India's No. 2 software services exporter, will see an adverse impact on its December quarter revenue from the rise of the dollar against other currencies, its chief executive said.

Brokerage Motilal Oswal said last week the weakening of the British pound and the euro against the dollar would put pressure on the third quarter dollar revenues of exporters such as Infosys, unless there is a sharp reversal later in the period.

"Definitely currency movement will have an impact but it is difficult to say what exactly it is," S. Gopalakrishnan told reporters on Monday.

"Right now, dollar is appreciating against all currencies, that is the impact you will have."

Although a weaker Indian rupee, which has fallen more than 20 percent this year, is positive for India's export-driven services firms, a sharp rise in the dollar against other currencies hurts revenues derived from business in other countries.

"I can't give you a specific number because we will quantify that at the end of the quarter. About 40 percent of our revenues come from non-U.S. market. When that moves and depending on which currency it is, we'll have to take the impact," he said.

Last month, Infosys, which develops applications, designs supply chains and offers back-office services, said it revenue in the quarter ending on Dec. 31 would rise by 8.4-12.6 percent to $1.18-$1.22 billion under the international accounting standards.

Nasdaq-listed Infosys (INFY.O: Quote, Profile, Research) is seeing flat billing rates and the company is on track to add 25,000 gross staff in the current fiscal year to March 2009 despite the financial sector turmoil, he said.