Rupee Hits Record Low of 92 Against Dollar: Imports Costlier, Exporters Benefit

• The Indian Rupee depreciated to a record low of 92 against the US dollar on January 23, marking a 2% slide this month.
• This depreciation will increase the cost of imports like crude oil, electronic goods, and foreign travel, potentially fueling inflation.
• Sectors such as foreign education and overseas travel will become more expensive for Indians due to the weaker rupee.
• Exporters, however, stand to gain as they receive more rupees for every dollar earned, boosting their competitiveness.
• Non-resident Indians (NRIs) remitting money to India will also benefit from higher rupee conversions.

Why It Matters: Rupee's record low makes imports pricier and fuels inflation, while benefiting exporters and NRIs.