Slide In Rupee Against Dollar To Spoil Festive Season As Gold Gadgets Car Prices Likely To Go Up
Weak Rupee Spoils Festive Season: Rupee is falling in the...
Weak Rupee Spoils Festive Season: Rupee is falling in the abyss every day against the dollar. The condition is that the rupee has slipped below the level of Rs 82 against a dollar and if the experts are to be believed, it can fall even up to Rs 85. The festive season has started in the country. The festival of Navratri is over. But now from Karva Chauth, to Dhanteras and Diwali is about to come. These are such festivals in which people do tremendous shopping.
On these festivals, from electronic gadgets to gold, silver, home car, all are purchased. But a costly dollar and a weak rupee can dampen the festive spirit. Due to the weak rupee, all such goods which have either been imported or imported goods have been used in it, can become expensive. Now let us tell you how weak rupee is going to rob your pocket in this festive season.
Buying gold will be expensive!
India is one of the largest importers of gold. From Navratri, to Karva Chauth, Dhanteras and Diwali, people buy gold or gold jewelry. But in this festive season, buying gold is going to be heavy on your pocket. Importing gold has become expensive. In such a situation, the increase in gold prices in the country is bound to happen. Recently gold had fallen below 50,000 per 10 grams. But again gold has reached above Rs 52,000. And it is believed that due to the weakening rupee, the prices may increase further in the coming days.
Electronic Gadgets Will Be Expensive!
There has been a record sale of mobile phones and other electronic gadgets on Navratri. Similar sales are being expected on Dhanteras and Diwali as well. But the way the rupee is weakening, after that it is believed that electronic gadgets can become even more expensive.
Cars can be expensive!
One, this year, due to rising commodity prices, automobile companies have been increasing the prices and have passed the burden on the customers. But after the weakening rupee and the strengthening of the dollar, the cost of automobile companies may increase further. Due to which buying a car in this festive season can be heavy on the pocket. Actually, automobile companies import many things for manufacturing. After the strengthening of the dollar, imports will become costlier. The customers may have to bear the brunt of which.
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