'What is their answer now': Priyanka jabs BJP on rupee breaching 90/dollar
New Delhi (PTI): Congress general secretary Priyanka Gandhi Vadra on Thursday took a swipe at the BJP over the rupee crossing the 90-mark against the US dollar, and asked what is their answer now as they had commented when the dollar had risen during Manmohan Singh's time.
The rupee slumped 28 paise to an all-time low of 90.43 against the US dollar in early trade on Thursday.
Asked about it in Parliament House complex, Gandhi told reporters, "Some years ago when (value of) dollar (with respect to the rupee) was high during Manmohan Singh's time, what did these people say? What is their answer now, ask them, why are you asking me."
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.
Chief Economic Adviser V Anantha Nageswaran on Wednesday said the falling rupee is not affecting inflation or exports.
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Rupee falls 9 paise to all-time low of 90.58 against US dollar in early trade
Mumbai (PTI): Rupee depreciated 9 paise to an all-time low of 90.58 against US dollar in early trade on Monday, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows.
Forex traders said rupee is trading with a negative bias as investors are in wait and watch mode and awaiting cues from the India-US trade deal front.
At the interbank foreign exchange market, the rupee opened at 90.53 against the US dollar, then fell further to an all-time intraday low of 90.58 against the greenback, registering a fall of 9 paise over its previous close.
On Friday, the rupee had slipped 17 paise to close at an all-time low of 90.49 against the American currency.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 98.35.
Brent crude, the global oil benchmark, was trading higher by 0.52 per cent at USD 61.44 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex was trading 298.86 points lower at 84,968.80, while the Nifty was down 121.40 points at 25,925.55.
Foreign Institutional Investors sold equities worth Rs 1,114.22 crore on Friday, according to exchange data.
"FPIs continue to be in selling mode in equity and debt while RBI has been selling dollars to fund their long positions," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
