As PM Modi prepares to turn 75, rupee has declined well past 86 to the dollar: Congress

Congress General Secretay (Communications) Jairam Ramesh said the rupee is hitting new lows against the dollar day after day which increases currency risks.

New Delhi: Congress on Monday targeted Prime Minister Narendra Modi over fall in the value of rupee by recalling his barb at his predecessor Manmohan Singh and he has clearly been "hoist with his own petard".

"When Narendra Modi took over as PM he was about to turn 64 and the rupee was at Rs 58.58 to the dollar. He waxed eloquent on making the rupee stronger and mockingly linked its fall to his predecessor's age," Congress General Secretary (Communications) Jairam Ramesh said on 'X'.

"Well, now as Modi prepares to turn 75 later in the year, the rupee has already declined well past Rs 86 to the dollar. As the fall continues, Modi has clearly been hoist with his own petard!" he added.

The rupee had its steepest fall in nearly two years, plunging 58 paise to hit Rs 86.62 against the US dollar at the close on Monday.

The Congress leader said the rupee is hitting new lows against the dollar day after day which increases currency risks.

Last week when the value of rupee against dollar fell to Rs 86.40, Congress General Secretary and Lok Sabha MP Priyanka Gandhi Vadra said, "During Dr Manmohan Singh's tenure, when the value of one dollar was 58-59 rupees, Narendra Modi used to link the value of rupee to the prestige of the government. He used to say, I know everything. The currency of any country cannot fall like this."

"Today he himself is the Prime Minister and all records of depreciation of Rupee have been broken. He should answer to the people of the country," she had posted on 'X'.