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Depreciation in the rupee would negatively impact Indian in which of the following areas?
1. Foreign education
2. Foreign Travel
3. Investments abroad
4. NRI sending money back home
5. Crude import
Select the correct answer code:
- a)1, 2, 5
- b)1, 2, 3, 5
- c)1, 2, 4
- d)1, 2, 3, 4, 5
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Depreciation in the rupee would negatively impact Indian in which of t...
Depreciation in the rupee impacts all expenditure in dollar terms— imports, foreign education, travel, investments abroad, medical treatment etc. On the other hand, if you are an exporter or an NRI sending money back home, depreciation would fetch you more rupees per dollar.
A depreciating rupee increases the cost of crude import, which accounts for almost 20% of India’s imports. A rise in cost of crude raises fuel prices and inflation. That, in turn, leads to a rise in interest rates, which increases our borrowing cost.
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Depreciation in the rupee would negatively impact Indian in which of t...
Depreciation in the rupee can have several negative impacts on various areas in India. The correct answer is option B, which includes foreign education, foreign travel, investments abroad, and crude oil imports. Let's discuss each of these areas in detail:
1. Foreign education:
Depreciation in the rupee would make foreign education more expensive for Indian students. This is because the cost of tuition fees, accommodation, and other expenses in foreign countries is usually denominated in foreign currencies. As the rupee depreciates, Indian students would require more rupees to pay for their education abroad, making it a financial burden for many.
2. Foreign travel:
Similarly, depreciation in the rupee would make foreign travel more expensive for Indian tourists. The cost of airfare, accommodation, food, and other expenses in foreign countries would increase due to the weakened rupee. This could discourage Indian tourists from traveling abroad or force them to cut back on their travel plans.
3. Investments abroad:
Depreciation in the rupee would also impact Indians who have made investments in foreign countries. If the rupee depreciates, the value of their foreign investments in terms of rupees would decrease. This could lead to a decline in their overall wealth and returns on investment.
4. NRI sending money back home:
Depreciation in the rupee would negatively affect Non-Resident Indians (NRIs) who send money back home. When the rupee depreciates, NRIs would get fewer rupees for the same amount of foreign currency they send to India. This would reduce the purchasing power of their remittances and could adversely impact their families and the Indian economy as a whole.
5. Crude oil import:
India is a major importer of crude oil, and a significant depreciation in the rupee would make crude oil imports more expensive. This would lead to higher fuel prices in the domestic market, which could have a cascading effect on various sectors of the economy. Increased fuel prices could lead to higher transportation costs, inflation, and reduced consumer spending power.
In conclusion, depreciation in the rupee would have negative implications for foreign education, foreign travel, investments abroad, NRI remittances, and crude oil imports. These impacts highlight the importance of maintaining a stable currency for the overall economic well-being of the country.
1. Foreign education:
Depreciation in the rupee would make foreign education more expensive for Indian students. This is because the cost of tuition fees, accommodation, and other expenses in foreign countries is usually denominated in foreign currencies. As the rupee depreciates, Indian students would require more rupees to pay for their education abroad, making it a financial burden for many.
2. Foreign travel:
Similarly, depreciation in the rupee would make foreign travel more expensive for Indian tourists. The cost of airfare, accommodation, food, and other expenses in foreign countries would increase due to the weakened rupee. This could discourage Indian tourists from traveling abroad or force them to cut back on their travel plans.
3. Investments abroad:
Depreciation in the rupee would also impact Indians who have made investments in foreign countries. If the rupee depreciates, the value of their foreign investments in terms of rupees would decrease. This could lead to a decline in their overall wealth and returns on investment.
4. NRI sending money back home:
Depreciation in the rupee would negatively affect Non-Resident Indians (NRIs) who send money back home. When the rupee depreciates, NRIs would get fewer rupees for the same amount of foreign currency they send to India. This would reduce the purchasing power of their remittances and could adversely impact their families and the Indian economy as a whole.
5. Crude oil import:
India is a major importer of crude oil, and a significant depreciation in the rupee would make crude oil imports more expensive. This would lead to higher fuel prices in the domestic market, which could have a cascading effect on various sectors of the economy. Increased fuel prices could lead to higher transportation costs, inflation, and reduced consumer spending power.
In conclusion, depreciation in the rupee would have negative implications for foreign education, foreign travel, investments abroad, NRI remittances, and crude oil imports. These impacts highlight the importance of maintaining a stable currency for the overall economic well-being of the country.
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Depreciation in the rupee would negatively impact Indian in which of the following areas?1. Foreign education2. Foreign Travel3. Investments abroad4. NRI sending money back home5. Crude importSelect the correct answer code:a)1, 2, 5b)1, 2, 3, 5c)1, 2, 4d)1, 2, 3, 4, 5Correct answer is option 'B'. Can you explain this answer?
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