New Delhi: Congress leader Priyanka Gandhi Vadra launched a scathing attack on the union government following the Indian rupee’s historic plunge against the US dollar, reaching an all-time low of 86.04 on Friday.
In a strongly worded post on X, she directly challenged Prime Minister Narendra Modi to explain the situation, highlighting the sharp contrast between his past criticisms during the UPA government and the current reality.
“The value of the rupee against the dollar has reached its lowest level ever. For the first time in history, the value of one dollar has become 86.4 rupees,” Priyanka Gandhi said in a post in Hindi on X.
डॉलर के मुकाबले रुपये की कीमत अब तक के सबसे निचले स्तर पर पहुंच गई है। इतिहास में पहली बार एक डॉलर की कीमत 86.4 रुपये हो गई है।
डॉ. मनमोहन सिंह जी के कार्यकाल में जब एक डॉलर की कीमत 58-59 रुपये थी, तब नरेंद्र मोदी जी रुपये की कीमत को सरकार की आबरू से जोड़ते थे। वे कहते थे,… pic.twitter.com/IOG3oaUeA3
— Priyanka Gandhi Vadra (@priyankagandhi) January 11, 2025
Priyanka pointed out that the rupee’s value has never fallen so low against the dollar, exceeding even the previous record. She recalled Modi’s past pronouncements during Manmohan Singh’s tenure as Prime Minister when the dollar traded at 58-59 rupees. During that period, Modi, then the Chief Minister of Gujarat, frequently linked the value of the rupee to the perceived competence and prestige of the government, often criticising the then-UPA government for its handling of the currency.
“Today he himself is the prime minister and all the records on the fall of the rupee have been broken. He should answer to the people of the country,” she said in the X post.
Priyanka highlighted the irony of Modi’s previous assertions, quoting his statements about the impossibility of such a significant currency decline. Now, with Modi himself as Prime Minister, the rupee has reached an all-time low, prompting her demand for accountability. She called upon him to answer the Indian public, emphasising the seriousness of this economic setback.
The rupee’s decline is attributed to a confluence of factors, including a strengthening US dollar and substantial outflows of foreign funds. Global crude oil price increases and negative sentiment in the domestic equity markets also contributed to the weakening currency. Market analysts cite the anticipated restrictive trade measures by the incoming US administration as an additional factor contributing to increased demand for the dollar and subsequent rupee depreciation.
