New Delhi: Congress president Rahul Gandhi on Thursday fired a fresh salvo at the Centre for failing to arrest the persistent decline in the domestic currency. “Breaking: Rupee slips to 73.77. It’s not breaking — it’s Broken,” he posted on Twitter. Also Read - Cyclone Tauktae Likely to Hit Karnataka Coast Tonight; PM Modi Reviews Preparedness | 10 Points
The Indian rupee on Thursday slumped to a fresh low of 73.77 to a US dollar, as rising crude oil prices and a worsening rupee raised concerns about capital outflows. Also Read - PM Kisan Samman Nidhi Scheme Reaches 7.03 Lakh Farmers In Bengal, Mamata Accuses Centre Of Dilly-Dallying Funds
At 12.50 PM, the rupee had recouped some of its losses to trade at 73.61 against the greenback after opening at 73.67 at the Inter-Bank Foreign Exchange Market. It had settled at 73.34 on Wednesday. Also Read - Times Group Chairperson Indu Jain Dies, PM Modi Expresses Grief
Earlier on Wednesday, the Congress chief took to the microblogging website and hit out at Prime Minister Narendra Modi after the rupee fell to a new low against the US dollar. While questioning PM’s silence on the matter, he tweeted in Hindi that when fuel and gas prices are on the boil and there is an outcry in the public, till when will the prime minister be on silent mode.
“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 tweeted while asking what happened to the promise of ‘achche din’.
The Congress has been attacking the Narendra Modi government over the rise in domestic fuel prices and a tumbling rupee.
Consistent dollar demand from importers, mainly oil refiners, following higher crude oil prices, have kept the rupee under pressure. State-owned oil marketing companies have been allowed to raise USD 10 billion from overseas market to meet their working capital needs.
(With Agencies inputs)