Indian rupee is getting weak. Is it good for developers?

For a few days I've been hearing a lot about Indian currency vs Dollar. Some people say it is bad, some say it is good. But most of them are not giving genuine reasons for their claims.
In the context of Developers I think it is good news. Because a lot of developers I know are earning in dollars. So, by the end of the month they will earn the same dollar, but more in rupees.
I don't know how it will affect those who are in an Indian based company. I would like to dive more deep into this topic.
This is debatable.