PM Modi has decided to make the rupee hit a century against the dollar: Congress

Congress criticizes PM Modi for rupee's 50% fall in last decade, questioning his ability to stabilize currency.

Targeting Prime Minister Narendra Modi over the falling value of the rupee against the U.S. dollar, the Congress on Friday (January 24, 2025) said the currency has fallen by 50% over the past decade.

The Prime Minister has “made up his mind to make it hit a century”, Congress spokesperson Supriya Shrinate said, repeatedly taking potshots at Mr. Modi during a press conference at party headquarters.

Wielding a magnifying glass, Ms. Shrinate claimed she had lost track of how steeply the rupee has fallen and with it, the Prime Minister’s dignity. “It was Mr. Modi who [once] said that along with the falling rupee, the Prime Minister’s dignity and his office’s grace also fall. I wonder what Prime Minister Modi has to say now,” she said.

“The rupee today is staring at 87 to a dollar, while he was handed over the rupee at 58 to a dollar when he became the Prime Minister. The rupee has fallen by 29 against the dollar, which is a fall of 50% in the last 10 years. It looks like he has made up his mind to make it hit a century,” Ms. Shrinate added.

The Congress spokesperson asked the Centre whether it has a plan to resurrect the rupee and for how long precious forex reserves are going to be spent to control and strengthen the rupee.

“Today, the rupee is playing hide and seek with 87. It seems that the rupee is running away and Prime Minister Modi is shouting slogans from behind – ab ki baar 60 paar, 65 paar, 70 paar, 75 paar, 80 paar, 85 paar‘.... Now, we will make 87 paar also. Narendra Modi has decided that he will ensure that he reaches a century of rupees,” the Congress leader said.

“If Narendra Modi is asked about the falling rupee, he can blame [first Prime Minister Jawaharlal] Nehruji for it,” she said, adding that the Congress handed over the rupee to Mr. Modi at ₹58.4 to a dollar. “Mr. Modi has contributed 34% to the fall of the rupee so far and during his 10-year tenure, the value of the rupee has fallen by 50%,” Ms. Shrinate added.