New Delhi, Dec 4: Priyanka Gandhi Vadra, All India Congress Committee general secretary and Wayanad MP, on Thursday criticised the government as the Indian rupee slipped past the 90-per-dollar mark, hitting a record low.
Speaking to the media, Priyanka questioned the government’s silence on the issue, contrasting it with the criticism it had levelled when the rupee weakened during the Manmohan Singh government. She said, “What did they use to say when the dollar’s value was high against the rupee during the Manmohan Singh government? What is their response today? Ask them. Why are you asking me?”
Analysts attribute the rupee’s decline to capital outflows, rising crude prices, and delays in a major India-US trade deal, raising concerns among the public and political circles.
Meanwhile, the government, through the Reserve Bank of India (RBI) and its economic team, has downplayed the depreciation. Chief Economic Adviser V. Anantha Nageswaran stated that the rupee’s fall is unlikely to have a significant impact on inflation or exports at present.
The currency’s record low comes amid weak trade and portfolio flows, coupled with uncertainty surrounding the India-US trade deal, highlighting challenges in the external economic environment.