Indian rupee fell, people earning abroad are happy. Those sending payments in USD and AED will get more exchange currency.
After the turmoil in the global market, its direct impact is now visible on the Indian currency as well. The Indian rupee has reached an all-time low against the US dollar.
5 August drop
On August 5, the Indian rupee fell to Rs 84 against the US dollar. Regarding this, today opposition leader Rahul Gandhi also questioned the government and criticized the policy.
Foreign imports are expensive
Due to this, foreign imports will become expensive in the country and as a result, inflation can be seen in many places. Especially those electronic items which are imported from abroad can become expensive very soon.
Good news for people earning abroad
This will be good news for those who earn abroad. Due to the current rise in the value of foreign currency, when people send money to their families from abroad, they will get more money than before. For example, if a person sends money to India from the United Arab Emirates at present, he will get 22.84 instead of 1 Emirati Dirham as per the exchange rate, whereas in the last two years it was around ₹ 20.
