If the exchange rate of a country falls with respect to the other country then its exports become cheap while imports become expensive. For example : If earlier, the exchange rate was US$1= INR 60 , and if the exchange rate decreased to US$1 = INR 70 , then businesses that are selling their products in the US will receive more money. So, if my product was priced at US$5, earlier I was receiving 5*60= INR 300 , now the exchange rate depreciated to INR 70 , so for the same priced product in the US that is priced at US$5, I will be receiving 5*70= INR 350. Similarly, for imports, as the exchange rate depreciated to INR 70 and if I want to purchase a Smartphone worth US$200; earlier I had to pay 200*60= INR 12,000 . Now I will pay, 200*70= INR 14,000 .
Exactly opposite will happen when exchange rate will appreciate. For example: when US$1= INR 60 will become US$1= INR 50 .