Priyanka slams Centre as rupee crosses 90-mark

The Congress on Thursday slammed the Centre after the rupee sank to an unprecedented 90.43 against the US dollar in early trade, questioning the government’s stewardship of the economy and recalling the BJP’s past criticisms during the UPA era.

Speaking to reporters in the Parliament complex, Congress general secretary Priyanka Gandhi Vadra said the ruling party must answer for the domestic currency’s slide. She pointed out that the BJP leaders had been quick to ascribe blame when the dollar strengthened during former PM Manmohan Singh’s tenure.

She remarked that the same questions should now be directed at those who once accused the previous government of economic mismanagement.

Her comments came as the rupee opened at 90.36 at the interbank foreign exchange market and slipped further to an all-time low of 90.43, marking a 28 paise fall from Wednesday’s close. The currency had already broken the psychological barrier the previous day, settling at 90.15 for the first time.

Market participants attributed the sustained pressure on the rupee to heavy dollar demand from importers and limited RBI intervention ahead of the Monetary Policy Committee’s decision.

According to forex traders, the central bank’s restrained presence allowed the greenback’s strength to push the domestic unit lower through the session.

Adding to the Congress’s criticism, party president Mallikarjun Kharge said the rupee’s fall reflected the true state of the economy and argued that had government policies been sound, the currency would not have weakened to such an extent.

He recalled Prime Minister Narendra Modi’s own remarks from 2014, when he had demanded answers for the rupee’s decline and claimed the nation deserved an explanation.