Falling rupee hitting hard

The question on everyone’s mind is how the falling rupee is affecting a common man. After all, for an ordinary laborer or taxi driver; what value can a falling rupee value or dollar rise have? A lot more than you can think.

A 17% drop in India’s weak currency has driven up the cost of imports such as petroleum and chemicals that is used in packing. Due to this, we now see a rise in everyday consumer products such as cooking oil, soaps and shampoos amongst others. If you visit your local supermarket, almost everything stocked there has some reliance on imported stuff- be it plastics, oils, cosmetics or beverages. To offset the rupee’s drop, companies have to raise prices by up to 5-6% and due to this, we are hit hard everywhere.

The only relief is that food chains such as McDonalds, KFC and Pizza Hut are offering cheaper variants of their products. After all, look at the irony- today a Chicken burger with fries in McDonalds works out cheaper than buying a kilo of potatoes and onions. So we import stuff and then eat imported junk food and get fat and obese like the rest of the world.