Question

what happens in the economy if 1₹=1$​

Answer 1

1. Buying imported goods will become cheaper, which is nothing but the import will increase, which is good for the developing country.

2. Indians can buy the luxurious item at a more discounted rate than the current rate of the item.

3. Exports will become expensive as the Indian products will become expensive in compared with other competing nations.

4. If the rupee value increases, so then people would not give humongous amounts of money to their domestic help. As they will purchase any machine or will do the work of their own. So, eventually, people will lose jobs which will increase unemployment.