Monday, October 26, 2020
Home Top News Rupee is not breaking, it is broken: Rahul Gandhi after rupee hit...

Rupee is not breaking, it is broken: Rahul Gandhi after rupee hit record low

- Advertisement -

As the Rupee hit a record low of Rs 73.77 against the US dollar, Congress President Rahul Gandhi on Thursday said that the Indian currency is not breaking, but is “broken”.

- Advertisement -

The rupee collapsed to a fresh low of 73.77 against the US dollar Thursday, as global oil prices continued to rise, deepening concerns about the current account deficit and capital outflows.

“Breaking: Rupee slips to 73.77. It’s not breaking – it’s Broken,” Gandhi said on Twitter.

- Advertisement -

Gandhi on Wednesday hit out at Prime Minister Narendra Modi questioning his silence over the falling value of the Indian Rupee.

He tweeted in Hindi that fuel and gas prices are on the boil and there is an outcry in the public and asked till when the prime minister will 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 markets are scurrying. Till when will the 56-inch chest be on ‘silent mode’,” he tweeted and asked what happened to the promise of ‘achche din’.

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 $10 billion from overseas market to meet their working capital needs.

At the interbank foreign exchange, the rupee opened lower and slipped further to a fresh low of 73.77 a dollar against 73.34, a fall of 43 paise.

- Advertisement -

Most Popular

Indian hospitals are large and multifaceted entities with lots of challenges

Medical practices are very much efficient, recorded and always under control. If there is any negligence then the guilty is always brought to justice, be it some doctors, nurses or para-medical support.

‘Let’s destroy the Ravana like corona’: CM Thackeray

Vijayadashami is the motivation to overcome adversity and evil tendencies. Chief Minister Uddhav Thackeray has appealed to the people of the state on the...

Balutedars demand reservation, call to revoke amendment of Article 366

Leader of OBC Bhatakya Vimukta and ex-Congress MLC, Haribhau Rathod has called for the cancellation of the amendment in the constitution that deprives the...

Happy Dussehra Dear Readers – Celebrate The End Of Evil By The Good

Many people of the Hindu faith observe Dussehra through special prayer meetings and food offerings to the gods at home or in temples throughout...