Indian rupee hits a new low; impacts outbound tourism

India’s currency, the rupee, fell to an all-time low, breaching the 70 mark against the US dollar. Guldeep Singh Sahni, Founder President, Outbound Tour Operators Association of India (OTOAI), said, “The drop in currency is definitely going to affect the outbound tour operators. Family travel is also going to be hit adversely as they are majorly in groups; so the amount involved is huge. However, the impact is only going to be momentary and not last for long.”
On the impact of outbound tourism, Mahendra Vakharia, President, OTOAI, said, “Agents need to secure higher rates with their banks before pitching to clients and watch the movements of the market.”