Rupee sinks to record low: Kharge says currency has ‘no value’ under Modi; Priyanka asks, ‘What is BJP’s answer now?’

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

The rupee slipped to a record low of Rs 90.33 per US dollar on Thursday, triggering a sharp political attack from the Congress, which said the currency’s slide reflects the government’s 'failed economic policies' and rising external risks.

The currency has fallen 4–5 percent in 2025, making it one of Asia’s worst performers, according to market data reviewed on Thursday morning. Traders cited sustained foreign fund outflows, higher crude oil prices and uncertainty around the India–US trade deal as key drivers of the decline.

Opposition leaders Mallikarjun Kharge, Priyanka Gandhi Vadra and Manish Tewari targeted the Centre over the rupee’s fall, recalling the BJP’s own criticism of the UPA government during previous episodes of currency weakness.

The immediate trigger is a combination of foreign investor selling, firmer Brent crude, and ambiguity around the proposed India–US trade deal after Washington imposed steep tariffs on multiple Indian exports.

Kharge said the rupee’s slide “shows that our economic condition is not good” and claimed the Indian currency has “no value” in global markets under the current government. He said the rupee’s direction reflects the impact of the Centre’s policy choices.

Priyanka Gandhi Vadra asked what the BJP’s response is now, referencing its earlier criticism of the Manmohan Singh government when the rupee had weakened. “What did they say then? What is their response today?” she asked outside Parliament.

Congress MP Manish Tewari revived a 2013 remark by BJP spokesperson Ravi Shankar Prasad, who had compared the rupee’s value to the ages of Rahul Gandhi, Sonia Gandhi and Manmohan Singh. Tewari asked whom the rupee’s current value of Rs 90.19 should now be compared with.

(With inputs from ANI)