Value of Indian rupee declining.

Prices will go uppppp..... bank deposit's interest rates would come down. More harmful things may sprout and I do not want to say more as it may be wrong to write here.

I don't know anything about India economy structure but when this happened in my country before, the first impact are on bank capital and their rate. This also depend on how much declining national currency will happen and how long. If just in short term (day or a week) with small declining, it normal on international currency exchange, nothing serious gonna happen. But if fast or happen in long term, bank will out of capital. They gonna counter it with increasing rate (loan and saving) and this gonna lead to high cost economy (everything gonna be expensive) Country with export oriented will get advantage on this situation because they buy on cheap (local material) and sell on high price. But if this happen to country with import oriented, this situation will lead to high inflation. Sorry if my explanation not good (my English terrible .... he he he)

Sad to say, but when the currency of a country decline, it will create a dominoes effect throughout all the industries within the country. It is not easy to defend one's currency as they are always subjected to world, international influences as well as other factors from within and without. I still believe that one day, the barter industry will come on strong when cash fail. That's why I am very passionate about barter trade whether on a local or international scale.

I know nothing at all about the Indian economy, so I can only speak from what I know about what happened in the US when the strength of the dollar fell against the value of the Euro. That was what really started to send the country into a tail spin. It really was the start of the recession that we've been experimenting for the last several years. It likely will mean that people in India will have to struggle for a time, but eventually the economy will come back stronger than ever.