West Bengal Chief Minister Mamata Banerjee today said the informal sector and small businesses will be worst hit by the depreciating rupee and lead to increase in the oil import bill.
“After demonetisation disaster and now Rupee slide, Rupee crashes to its lowest ever. We are very concerned,” the Chief Minister tweeted.
“Oil imports bill will now jump. Prices of vegetables will go up. After demonetisation disaster and now Rupee slide, informal sector and small businesses will be further killed. Farmer distress will be compounded… Time is running out. The writing is on the wall!! #RupeeCrash”, she said.
The Rupee today slumped 43 paise against the dollar to trade at a life-time low of 70.32 on strong demand for the US currency.