Indian Rupee depreciates to 55 against 1 dollar? Advantage or disadvantage?

It is an advantage for those who earn dollars like you from mylot and transfer it to Indian currency but no doubt a disadvantage for those who export and so earn less dollars compared to previous rate of earning dollars.

Ouch! What going on in your country. As far as I know your country is not on it's economic boom.

It is a disadvantage for our country my dear. It means that there is acute shortage of dollars out there, and we need to buy those dollars to pay up because we have a lot of dues to pay for. Bulk of our debts are for arms and oil. But there is an equally large amount that leaves the country towards royalty for things that we dont need or didnt really need but are now unable to live without. Example are Pepsi, Levi and Pepe Jeans, Cars like Volkswagon, Chevrolet, Skoda, and many others. We were indulged indiscriminately by our politicians. Appeasing techniques and rampant corruption are responsible for this state of affairs. Is there a way out of it? Of course, and the Finance Minister has already outlined a few. Other measures are rolling back the pay hikes of senior government employees, members of parliament, members of legislative assemblies..and cutting down the subsidies. Time our people accepted that there are no free lunches, dont you think?

Its a disadvantage for the country people like us who earn part time from online may like the conversion as we earn more to before but when we look at the commodities prices everything has raised up Traveling expenses for me well has effect great a month back if was 7rs now its 10rs by bus for the same journey.(this is just one example) similarly cost of everything has rise up so its a disadvantage Indeed

According to experts in related this field that I read in newspapers, overall, it isn't good to India. But Government of India is expecting some advantages as they accumulated bulks of dollar before the rise of value of dollar to this peak level , which is one of the reasons for this depreciation of Indian Rupee.

It doesn't really affect those earning online, as PayPal's exchange rate remains the same. A few months back, the rupee to dollar rate was on a all time high (about 56 or 58) and I got a lot of money cashed out from PayPal. And guess what was the exchange rate that they gave me? 48!!! I was extremely frustrated, and contacted them. The said that the rates remain the same, no matter what. So, it doesn't matter to me now, maybe it will someday when I'll have a multi-million dollar business on my hands!

If you are an exporter you would love this news as it means more exports and sales. Don't worry as I am sure the rupee will jump back slightly in the coming days, just make sure you buy at the right time.

Yup the exporters are gonna have field day but the importers are bound to suffer bad! And since we all get payment in dollars good for us but for the economy and to think the all the prices of various commodities that are gonna go up, not to mention the oil prices! And well US should be happy! They get their loans cut-down! Lets see who else is going to follow!

It is a disadvantage because it will affect prices of commodities in India and also oil price will rise leading to price of ordinary items like vegetables and other goods. On the whole it is very bad for India and the reserve bank will do something about it, I think so.