On August 1, it was placed at 13.281733 against a USD which is now has gone up to 14.692607 which is an increase of over one ZAR.

5. Indians are feeling it now

The rupee losing its value against dollars, Indians too have started feeling the heat. Sanchita Khurana, a PhD Scholar who is going to New York on Fulbright research grant has been keeping an eye on the devaluation of the rupee. 

“I have been waiting and hoping for the rupee to recover so that I can exchange it for some dollars, which I can keep as funds supplementary to my grant amount.

But I guess it’s just bad timing and since I can’t wait anymore, I’m having to incur major forex losses,” Khurana said TOI, while getting her money exchanged. 

She isn't the only one, Chennai based journalist Preeti  Zachariah who recently took a break to pursue her master program at an Ivy League college in the US too is worried for her expenses as now she would get the lesser amount of money against the rupee for her expense.

“My overall fee and expenses have gone up by around 10 per cent from what I anticipated when I opted to study. While I've been lucky enough to have gotten a generous scholarship, housing and living expenses have been adding up considerably. Really hope that it stabilises soon,” Zachariah told TOI from New York.

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