The rupee continues to fall a record mark of Rs 70.26 against US Dollar on early Thursday morning in early morning thus impacting many import products like crude oil, medicines, iron core and many others in large quantities.
The record fall in the Indian currency is mainly affected by the Turkish Lira which helps the US Dollar to gain by 6 against lira after US ruled out removing steel tariffs on Turkey.
The shift in the value of Rupees will not only effect the capabilities of the country but also will soon start to increase the prices of the daily commodities and in turn shake the personal budget.
The list of the products going to be costlier if the trend of rupee will fall in the coming days includes crude oil, fertilizers, medicines, iron ore and other imported items.
The biggest impact would be seen in the prices of petrol and diesel that is imported by 70% and as a consequences, rates of the transported items may further increase.
For industries dependent on the Import products will now have to face the higher cost of operation and thus the employees will be on suffering part.
With this Rupee fall, students will have to bear the brunt of hike in the education loans for the foreign institutions as students paid their expenses in a foreign currency which will in turn increase the cost of education.
The automobile section will also be impacted as the imported components of the imported input parts and higher royalty to the foreign patent firms will be higher.
Other imported goods like the latest laptops, electronic items like computer, televisions and international food chains will become costlier.
Along with the fall in the other foreign currency, hike in the RBI repo rate is also contributing for the fall of the Indian Rupee.