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Indian Rupee Getting Cheaper: Opportunity or Curse?
By siliconindia
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Wednesday, 23 November 2011, 01:09 IST |
5 Comments
The biggest losers if rupee gets cheaper:
6. High food prices:
India imports a slew of food items, such as pulses and edible oil, to meet domestic demand. A falling rupee simply makes imports costlier since India now has to pay more, in terms of rupees, for the same goods and services it imports. India imports 21 percent of world's pulses to meet domestic prices, according to Pravin Dongre, president of the Mumbai-based Indian Pulses & Grains Association. "Prices of commonly consumed pulses, which have been so far stable, will go up somewhat on the back of a weaker rupee," Dongre said.
