The rupee has suffered a considerable decline against the US dollar over the last few weeks. Last week, the Indian currency slipped even below Rs 56 against the US currency. While the rupee's continuous decline has hit importers very hard, it, on the other hand, emerged as a great boon to exporters.

The decline in the rupee benefits:

NRIs who send money back home are one of the biggest gainers from the decline in the currency as each dollar gives their family more rupees.

Exporters or export oriented companies also benefit from the decline in the domestic currency. This is because they will get more rupees for each dollar they get from exporting goods or services.

Investors in global funds also gain from a decline in the domestic currency as the performance of global funds in rupee terms gets multiplied to the extent of the decline in the domestic currency.

The decline in the rupee hurts:

Importing companies get hurt as the goods or services imported from foreign countries hikes their input costs.

FII suffers as weaker rupee erodes their investments in dollar terms. Decline in rupee also raise the cost of inevitable fuels like petrol and diesel.

Foreign travelers also suffer as a decline in the domestic currency makes their trips to foreign countries for holidaymaking or education more expensive.