(MENAFN- AsiaNet News)

Opposition Mocks BJP Over Falling Rupee

Congress MP Manish Tewari on Thursday recalled the time that the BJP had mocked the United Progressive Alliance (UPA) regime for the falling rate of the rupee and noted that the current rate has far exceeded even the age of Prime Minister Narendra Modi now. Tewari said that during the time of the UPA leadership, the BJP had mocked the government for the falling rate, with BJP spokesperson Ravi Shankar Prasad saying in 2013, "The worth of the Indian rupee against the dollar was equivalent to Rahul Gandhi's age when the United Progressive alliance (UPA) came to power. Today it is equal to Sonia Gandhi's age, and very soon it will touch Manmohan Singh's age."

Recalling the more than a decade-old statement, Tewari asked the BJP, "Today the Rupee is at 90.19 to the USD Whose age is equal to? On 10 July 2013 this is what the Chief Spokesperson of BJP said about the value of the Rupee," Tewari posted on X.

Earlier today, Trinamool Congress MP Mahua Moitra took a sarcastic jibe at Prime Minister Narendra Modi and the Central government, saying that "strength and weight" of the Indian currency is making it fall against the US dollar. "If something is heavy, it will fall. Our rupee has strength & weight. That's why it's falling," Moitra posted on X, along with a graphic of PM Modi looking down at the falling rate of the rupee.

Economic Impact and Expert Analysis

The Indian Rupee has been among the poorest-performing Asian currencies in 2025, falling by about 4-5%. However, experts have highlighted some sectors that could benefit from the plunging Rupee.

Sunny Agrawal, Head, Fundamental Research at SBI Securities, said export-dependent sectors like Shrimp, Textile, IT, Pharma, Engineering, Metals, and Auto can benefit from the falling Rupee. However, import-dependent sectors such as FMCG, Plastic polymers, Oil and Gas are expected to face cost pressure, he added.

Anindya Banerjee, Head Commodity and Currency, Kotak Securities, said the steady importer demand, particularly from sectors like Oil, Metals, and Electronics, continues to absorb available dollar liquidity.

On Thursday morning, the Indian rupee exchange rate stands at 90.33 against the US Dollar. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

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