The Congress criticised Modi over the rupee’s "free fall" against the US dollar, resurfacing his 2013 comments mocking the UPA government.
Congress leader Jairam Ramesh shared an old video of Modi saying the falling rupee was competing with the government’s “dignity”, as the currency registered its steepest drop in over three years.
Congress Targets Modi As Rupee Hits Record Low, Recalls 2013 Remarks
The rupee briefly recovered after opening at 89.46 but remains near its record low of 89.66 amid strong dollar demand and market uncertainty.
Summary
The Congress on Monday criticised Prime Minister Narendra Modi over the rupee's "free fall" against the dollar, recalling his 2013 remarks as Gujarat chief minister in which he had mocked the then UPA government.
The rupee opened at 89.46 against the US dollar before climbing to 89.17, up 49 paise from its previous close.
On Friday, the rupee had dropped 98 paise to close at a record low of 89.66 against the dollar, amid high demand for the US currency in the domestic forex market, a sell-off across equities, and trade-related uncertainty.
Taking a dig at the government, Congress general secretary in-charge communications Jairam Ramesh posted on X, "The rupee continues its free fall in relation to the dollar. It is now about to breach the 90 rupees to the USD low." He questioned whether the prime minister remembers his own comments from July 2013 and shared a video from that period.
“Look at how fast rupee is falling. Sometimes it seems there is a competition going on between the rupee and the government in Delhi, whose dignity goes down faster,” Modi had said at the time.
Friday’s decline marked the sharpest single-day fall in over three years. The previous steepest fall was a 99 paise drop recorded on 24 February 2022.
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