It was not long ago when Indian Rupee stood strong against world economy and held a fortress of Indian economy very well. However, since past few months, that fortress has been breached and rupee has taken a very bad hit. With the condition, even Indian economy has started getting hit. The first hit has been taken by stock exchange where 700 Crore INR has been taken out by FII. Subsequently, the market felt and tremor were felt at the financial results of MNCs.
Let’s also discuss the lighter side of rupee going down. In India, currently it’s a summer time which means children across India are enjoying their vacation at home. Given the opportunity, many parents thought to plan an abroad trip and spend some quality time with the family. However, lower rupee means higher load on pocket to plan an outing abroad. Subsequently, many families around India cancelled their abroad outing. This has indirectly hit travelling industry where travelling companies have registered lesser revenues and profits.
It’s not just that, with the falling rupee, chances are increasing that per barrel prices of petroleum may go high. If so, petrol and diesel prices may soar high. Subsequently, transportation cost of day to day goods may go high. What will be the final result? A bad inflation will take even worst effect to give problems to Indian financial factors.
The only sector that has gain advantage from rupee fall down is IT where most business depends upon western countries. However, only IT industry is not going to help resolving financial issues faced due to falling rupee.