The holiday season will be here soon, and those who want to go on a foreign trip would have started the planning process. One of the main aspects in that is planning the finances. We fix a budget, and then work around it.
A factor that can play spoilsport is currency fluctuation. The rupee has depreciated 7.5% against the US dollar since January last year. On 28 January 2016, rupee was at around 68 to a dollar, a level last seen in August 2013. In March 2015, rupee was at 61 against the US dollar.
Also, analysts say that the domestic currency can become even more expensive in the short term (http://bit.ly/1OwZiDe).
Against the British pound, the rupee is at around 99, and against the euro it is at about 77. In March 2015, rupee was at 92 against the pound, and 74 against the euro.
What this means is that Indian travellers will now have to fork out more for their holidays, or spend less.
A recent survey conducted by travel portal Yatra.com found that when the rupee was at 61 against the dollar (in January 2015), about 89% of the 2,000 respondents surveyed were planning on going on a foreign holiday.
