Student or Learner
There's not much good news on the currency front that will hover around Rs 45 to Rs 47 to a dollar. This brings us to the question, is a weak rupee good or bad for our economy? Exporters will open the bubbly as a weaker rupee makes their products cheaper in the world market.
But if you happen to think of going to study abroad, you are likely to see an increase in your expenses in rupee terms. Indian travellers, too, will have to exchange more rupees to buy dollars when they go abroad.
Policymakers, preoccupied as they are with taming domestic inflation, don't see much merit in the cheaper rupee since it makes the country's imports relatively costlier. The big question, then, is how long will policymakers allow the rupee to continue on a downward spiral during the coming months.
Please explain the meaning of "downward spiral" to me.