Inflation in India: Due to the fall in the rupee, inflation will increase, import – studying abroad is expensive

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The rupee has broken down to near 80 against the dollar. The continuous fall in the price of the domestic currency will not only increase the inflation but will also make the import of crude oil to electronic products costlier. Study abroad and foreign travel will have to spend more than before.

The primary and immediate impact of the rupee depreciation falls on the importers, who have to pay a higher price for the same quantity. However, on Friday, the rupee strengthened by 8 paise to close at 79.91 against the dollar.

import bill will increase
A depreciating rupee will make imports costlier as importers need to buy dollars to pay for imported goods. India imports crude oil, coal, plastic products, chemicals, electronic products, vegetable oils, fertilizers, machinery, gold, pearls, precious stones, iron and steel.

Petrol, diesel and aircraft imports 85 per cent of its fuel requirements. Ajay Sahai, Director General of FIEO, said that due to the decrease in the value of the domestic currency, India’s import bill will increase. Inflation will become more difficult to handle.

Mobile-Car Buying Expensive
India also imports mobile phones to some car accessories. The depreciating rupee will make imports costlier for people to buy mobiles, cars and other electronic products. Buying Mobiles, Cars Due to the fall in the rupee, not only petrol-diesel but also mobile phones, some cars and equipment will become expensive.

Spending more on studies abroad: Studying abroad will become more expensive due to the fall in rupee’s value. For every dollar charged by foreign institutions as fees, more rupees will have to be spent. Education loan has already become costlier due to RBI raising interest rate.

foreign travel expensive
Foreign travel is accelerating after the decrease in the cases of Corona. However, due to the fall in the rupee, foreign travel will now cost more than before.

India’s profit ended
The sharp depreciation of the rupee has almost wiped out some of the gains for India. The rupee depreciation has wiped out the gains India would have received from the fall in global oil and fuel prices to pre-Russia-Ukraine war levels.

there will be some benefits
Sending money from abroad: Overseas Indians (NRIs) who remit money to their homes will be able to send more in rupee denominations.
Boon for exporters: Exporters exporting products from India will benefit from the fall in rupee. They will get more rupees instead of dollars for exports.

Expansion

The rupee has broken down to near 80 against the dollar. The continuous fall in the price of the domestic currency will not only increase the inflation but will also make the import of crude oil to electronic products costlier. Study abroad and foreign travel will have to spend more than before.

The primary and immediate impact of the rupee depreciation falls on the importers, who have to pay a higher price for the same quantity. However, on Friday, the rupee strengthened by 8 paise to close at 79.91 against the dollar.

import bill will increase

A depreciating rupee will make imports costlier as importers need to buy dollars to pay for imported goods. India imports crude oil, coal, plastic products, chemicals, electronic products, vegetable oils, fertilizers, machinery, gold, pearls, precious stones, iron and steel.

Petrol, diesel and aircraft imports 85 per cent of its fuel requirements. Ajay Sahai, Director General of FIEO, said that due to the decrease in the value of the domestic currency, India’s import bill will increase. Inflation will become more difficult to handle.

Mobile-Car Buying Expensive

India also imports mobile phones to some car accessories. The depreciating rupee will make imports costlier for people to buy mobiles, cars and other electronic products. Buying Mobiles, Cars Due to the fall in the rupee, not only petrol-diesel but also mobile phones, some cars and equipment will become expensive.

Spending more on studies abroad: Studying abroad will become more expensive due to the fall in rupee’s value. For every dollar charged by foreign institutions as fees, more rupees will have to be spent. Education loan has already become costlier due to RBI raising interest rate.

foreign travel expensive

Foreign travel is accelerating after the decrease in the cases of Corona. However, due to the fall in the rupee, foreign travel will now cost more than before.

India’s profit ended

The sharp depreciation of the rupee has almost wiped out some of the gains for India. The rupee depreciation has wiped out the gains India would have received from the fall in global oil and fuel prices to pre-Russia-Ukraine war levels.

there will be some benefits

Sending money from abroad: Overseas Indians (NRIs) who remit money to their homes will be able to send more in rupee denominations.

Boon for exporters: Exporters exporting products from India will benefit from the fall in rupee. They will get more rupees instead of dollars for exports.

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