Falling value of rupee shows country's real economic situation: Kharge

New Delhi, Dec 4 (PTI) Congress president Mallikarjun Kharge on Thursday took a swipe at Prime Minister Narendra Modi over the rupee crossing the 90-mark against the US dollar, recalling that as Gujarat chief minister he had questioned the UPA government over the declining value of the rupee.

The rupee slumped 28 paise to an all-time low of 90.43 against the US dollar in early trade on Thursday.

In a post in Hindi on X, Kharge said, "The rupee has already crossed 90 today. No matter how much the government beats the drum, the falling value of the rupee shows what the country's real economic situation is. If the Modi government's policies were right, the rupee wouldn't fall!" "Before 2014, Modi ji said - 'What is the reason that India's rupee is getting 'patla (losing its value)', you will have to answer this. The country is demanding an answer from you'. Today, we are asking Modi ji the same question. He will have to answer," Kharge said.

Earlier, speaking with reporters in Parliament, Kharge said since the value of the rupee is declining, it means that the economic situation of the country is not good.

"They keep saying that we are developing and our economic situation is good but when the value of rupee declines we get to know what the real economic situation is," he said.

Forex traders said that restrained central bank intervention ahead of the crucial Monetary Policy Committee (MPC) decision and significant dollar demand from importers have exerted persistent downward pressure on the local currency.

At the interbank foreign exchange market, the rupee opened at 90.36. It slipped further to a record low of 90.43 against the greenback in initial deals, registering a loss of 28 paise from its previous closing level.

On Wednesday, the rupee breached the 90-a-dollar level for the first time to settle at a fresh all-time low of 90.15 against the greenback. PTI ASK ASK DV DV