New Delhi: Senior Congress leader Shashi Tharoor on Friday said the BJP-led government should show the “grace” to withdraw its earlier criticism of the UPA over rupee depreciation, as the Indian currency plunged to an all-time low against the US dollar amid global uncertainties.
Speaking to reporters, Tharoor highlighted that the rupee’s fall is largely driven by international forces, including rising crude oil prices and geopolitical tensions in West Asia, and is beyond the control of any single government.
The Indian rupee fell 64 paise to settle at 93.53 against the dollar on Friday, weighed down by foreign fund outflows and elevated crude prices. Forex experts noted that risk aversion among investors and global market volatility have intensified pressure on the currency.
“This is something we have been witnessing over some time now. The government should at least have the grace to withdraw its earlier claim that the decline of the rupee under the UPA government was somehow a fault of the then prime minister,” Tharoor said. He added that the situation places the earlier criticism of the UPA in perspective.
The former Union minister also noted that the currency drop affects importers, travelers, and businesses dependent on foreign trade, describing the situation as “shocking” and expressing concerns that it could worsen.
Tharoor reiterated that while the rupee is experiencing significant volatility against multiple currencies, acknowledging global factors and avoiding unwarranted political blame would be the responsible approach.