"Indian rupee $(\text{₹})$ plunged to all time low of $\text{₹} 74.48$ against the US Dollar $(\backslash{})$)$\text{ " < br>The above statement indicates the depreciation of Indian currency against the foreign currency dollar }$(\$)$ . Depreciation means the fall in the value of rupee in terms of foreign currency. More rupees are now required to buy a unit of foreign currency. This will make foreign goods costlier to India. As a result, imports are likely to fall.