Congress Criticizes Government Over Rupee's Historic Low

The Congress party criticized the Indian government's handling of the economy after the rupee hit an all-time low of 84.09 against the US dollar. They cited economic mismanagement and loss of investor confidence as key issues. Despite a brief recovery to 83.93, concerns persist.

The Congress on Tuesday criticized the Centre for the rupee slumping to an all-time low of 84.09 against the US dollar, labeling it as a clear indication of the government's economic blunders and mismanagement.

The rupee fell 37 paise to settle at a historic low of 84.09 against the US dollar on Monday, amid a broader sell-off in global markets due to rising geopolitical tensions in the Middle East and concerns over a possible recession in the US.

On Tuesday, the rupee recovered slightly from this record low, closing 16 paise higher at 83.93 against the US dollar. Pawan Khera, head of Congress' media and publicity department, accused the government of poor economic management and cited the rupee's depreciation by more than 30% since the Modi government took office 10 years ago.

(With inputs from agencies.)