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Rupee not breaking, is broken, says Rahul Gandhi

News Nation Bureau | Edited By : Srishty Choudhury | Updated on: 04 Oct 2018, 01:01:58 PM
Rupee not breaking, is broken, says Rahul Gandhi

New Delhi:

As the Rupee plunged to a fresh low at Rs 73.77 against the US Dollar on Thursday, Congress President Rahul Gandhi said the Indian currency is not breaking, but is "broken".

"Breaking: Rupee slips to 73.77. It's not breaking - it's Broken," Gandhi said on Twitter as the Rupee opened at the interbank foreign exchange to a record low and fell by 43 paise to 73.77 against the US Dollar on Thursday morning.

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The relentless rise in global oil prices and at home has dented the Rupee value, leading to deepening concerns about the current account deficit and capital outflows.

On Wednesday, Rahul slammed Prime Minister Narendra Modi 'silence' over the falling value of the Indian Rupee.

"The rupee has crossed the 73 mark and price rise is causing an outcry. Fuel and gas prices are on fire and markets are scurrying. Till when will the 56-inch chest be on 'silent mode'," Rahul tweeted in Hindi.

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What happened to the promise of 'achche din', the Congress president asked in his tweet.

The Rupee has been hit by pressing dollar demand from importers in the wake of higher crude oil prices. And, state-owned oil marketing companies have been allowed to raise $10 billion from overseas market to meet their working capital needs.

(With inputs from agencies)

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First Published : 04 Oct 2018, 01:01:46 PM