As the Rupee hit a new low on Thursday, Congress president Rahul Gandhi said the news was ‘not breaking, but broken’. The Rupee sank to a fresh low of 73.77 against the US Dollar, after falling 44 paise in early trade. The rise in global oil prices coupled with concerns over the current account deficit and capital outflows were behind the Rupee’s decline.
The Rupee had closed at a record low of 73.34 on Wednesday, down 43 paise or 0.59%. The BSE Sensex, meanwhile, plunged over 500 points, or 1.39%, to 35,447.69 in early trade Thursday. The broader Nifty fell over 160 points, or 1.53%, to 10,693.65.
Gandhi’s tweet came a day after he questioned the government on its silence in the matter. “The rupee has crossed the 73 mark and price rise is causing an outcry. Fuel and gas prices are on fire and the markets are scurrying. Till when will the 56-inch chest be on ‘silent mode’,” he had tweeted on Wednesday while asking what happened to ‘acche din’.
The Congress is among several Opposition parties that have been targeting the Prime Minister Narendra Modi-led government over the Rupee’s fall. A united Opposition recently observed a Bharat Bandh to protest its slide, among a slew of other issues.
When the Rupee fell to 70.09 against the US Dollar in August, senior Congress leader and party spokesperson Randeep Singh Surjewala had taken a swipe at PM Modi, saying, “Modiji finally managed to do something that we couldn’t do in 70 years. For the first time, rupee breached the mark of 70,” he had tweeted.
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