Rupee's Plunge Sparks Political War of Words

The Congress criticizes Prime Minister Narendra Modi over the rupee's decline against the dollar, recalling his past mockery of the UPA government. The rupee hit a lifetime low amid high demand for the dollar. Congress highlights Modi's past remarks comparing the rupee's fall to government dignity.

The Congress has taken aim at Prime Minister Narendra Modi, criticizing the rupee's sharp decline against the US dollar. The political party referenced Modi's 2013 comments, when he mocked the UPA government while serving as Gujarat's Chief Minister.

The rupee opened at 89.46 against the dollar before improving to 89.17, marking a recovery of 49 paise from its previous close. Last Friday, it plunged 98 paise, reaching a lifetime low of 89.66 amidst massive demand for the US currency in forex markets and uncertainties in both local and global equities.

Congress general secretary Jairam Ramesh commented on the situation, sarcasm-laden, questioning whether PM Modi recalls his remarks from July 2013, highlighting a past statement where Modi had quipped about the rupee and the government's falling 'dignity'.

(With inputs from agencies.)