Delhi, 24 November (H.S.): Congress General Secretary Jairam Ramesh on Monday sharply criticized the central government's economic stewardship as the Indian rupee continued its precipitous decline against the US dollar. In a post on the social media platform X, Ramesh declared the currency to be in a free fall, noting its alarming approach towards the 90-to-the-dollar mark.

Ramesh described the rupee's continued depreciation as a worrying situation that raises serious questions about the Centre's economic management and called for Prime Minister Narendra Modi's immediate attention to the matter.

The rupee has recently faced significant pressure, hitting a record low of 89.66 last week, driven by a combination of weak domestic indicators and global economic uncertainties.The currency's slump has been attributed to several factors, including delays in a prospective US-India trade deal and significant capital outflows, with foreign investors reportedly pulling billions from Indian markets.

While the Reserve Bank of India (RBI) has been actively intervening to stabilize the currency, its efforts have not reversed the trend. The ongoing depreciation has made the rupee one of the worst-performing currencies in Asia.

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Hindusthan Samachar / Jun Sarkar