Rupee at record low: Congress leader Jairam Ramesh mocks at PM Modi

Congress leader Jairam Ramesh. File
| Photo Credit: PTI

In a X (formerly Twitter) post, Congress leader Jairam Ramesh mocked at Prime Minister Narendra Modi for the depreciation of rupee to record low at ₹86.

Mr. Ramesh in his X post, said “When Mr. Narendra Modi took over at PM he was about to turn 64 and the rupee was at ₹58.58 to the dollar.

“He waxed eloquent on making the rupee stronger and mockingly linked its fall to his predecessor’s age.”

In his post, Mr. Ramesh further said “Well, now as Mr. Modi prepares to turn 75 later in the year, the rupee has already declined well past 86 to the dollar. As the fall continues, Mr. Modi has clearly been hoist with his own petard!”

On Monday (January 13, 2025) the rupee logged its steepest fall in nearly two years, plunging 55 paise to hit a historic low of 86.59 against the U.S. dollar during mid-session on Monday (January 13, 2025) due to strengthening of the American currency and surging crude oil prices.

At the interbank foreign exchange, the rupee opened at 86.12 and fell to the lowest ever level of 86.59 against the greenback during mid-session, registering a loss of 55 paise from its previous close. The local unit however pared some losses and was later trading 46 paise down at 86.50 versus the dollar.