Rupee 58.58 against dollar in 2014, It's 85.27 now : Congress recalls Modi's 2013 remarks on currency during UPA rule

NEW DELHI: Congress General Secretary Jairam Ramesh has slammed PM Modi over depreciation of the money against the dollar. In a post Jairam Ramesh said the then-biological CM of Gujarat who is now prime minister of India has slammed

The congress general secretary acusing the prime minister Narendra Modi,recalled how the prime minister Narendra Modi had run a loud campaign against the depreciation of the rupee vis-a-vis the dollar in 2014, even resorting to personal attacks on Prime Minister Manmohan Singh to score political points. "On 16 May, 2014, the rupee closed at Rs 58.58 per USD. Ten years later, the rupee has touched an all time-low of 85.27 per USD. The INR has achieved the distinction of being the worst-performing currency in Asia”,he reminded.

Jairam has remembered him all about the depreciation of the value of the rupee now that despite the Government and RBI’s de facto currency peg - as the Prime Minister’s former Chief Economic Advisor has pointed out in recent weeks about it.He alleged that though the RBI has used billions of dollars of our foreign exchange reserves to stabilise the rupee, to no effect. How many billions have been used?.

“The non-biological Prime Minister has no words now, but let us remind him of his words from 2013,Ramesh said,quoting PM Modi’s then statement added,"Crises come, but if during a crisis if the leadership is directionless, hopeless, then the crisis becomes very grave… It is our country’s misfortune that the rulers in Delhi are neither worried about the country’s defence nor about the falling value of the rupee…If they are worried, it is only about saving their chair”,the congress general secretary said.

Related Business News

India's manufacturing growth hits 12-month low in December

India's manufacturing sector growth fell to a 12-month low in December, as new business orders and production expanded at softer rates, a monthly survey said on Thursday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index was at 56.4 in December, down from 56.5 in Nove....

Bangladesh's forex reserves dip to 18.61 bln USD

DHAKA: Bangladesh's foreign exchange reserves fell by 1.23 billion U.S. dollars to 18.61 billion dollars by the end of November 2024, according to the data. The Bangladesh Bank data showed the country's foreign exchange reserves stood at 18,611.40 million dollars on Nov. 28, the last working d....

India’s Forex Reserves Fall by $3.23 Billion to $654.86 Billion: RBI

India’s foreign exchange (FOREX) reserves declined by 3.23 billion dollars to 654.86 billion dollars in the week ending December 6, the latest data released by the Reserve Bank of India (RBI) showed on Friday. This marks a drop from the previous week’s level of 658.09 billion dolla....

RBI increases collateral-free agricultural loan limit from Rs 1.6 to Rs 2 lakh

The Reserve Bank of India has announced an increase in the limit for collateral-free agricultural loans from 1.6 lakh to 2 lakh rupees. It will be effective from 1st January next year. In a statement, the Agriculture and Farmers Welfare Ministry said that the aim of the decision is to provide ....

U.S. stocks dropped as a hotter producer price index (PPI) overshadowed

U.S. stocks ended lower on Thursday, as a hotter-than-expected producer price index (PPI) report overshadowed earlier momentum in tech shares. The Dow Jones Industrial Average fell 234.44 points, or 0.53 percent, to 43,914.12. The S&P 500 sank 32.94 points, or 0.54 percent, to 6,051.25. Th....