The Leader of the Opposition in Rajya Sabha and Congress President, Mallikarjun Kharge, on Thursday sharply criticised the Central government’s economic policies as the Indian Rupee plunged to a historic all-time low against the US Dollar, crossing the psychologically significant ₹90 mark, asserting that the Indian currency now has “no value” in the world under the present dispensation.
Speaking to reporters outside Parliament, Kharge directly attributed the Rupee’s weakness to the government’s policies.
“Rupee is weakening due to their policies. Had their policy been good, the Rupee’s value would have gone up. This shows that our economic condition is not good. We can say whatever we want and appreciate ourselves, but this shows that our currency has no value in the world,” Kharge told reporters.
The sharp depreciation came amid persistent foreign fund outflows from Indian markets, elevated crude oil prices in the international market, and lingering uncertainty surrounding the proposed India-US trade deal.
Throughout 2025, the Indian Rupee has been one of the worst-performing currencies in Asia, depreciating by approximately 4–5 per cent against the US Dollar. As of Thursday morning, the currency was hovering around the ₹90.20 level against the USD, with the interbank exchange rate later touching ₹90.33 per US Dollar.
Earlier in the day, senior Congress MP Manish Tewari took to social media and the Parliament premises to highlight the irony, recalling how the Bharatiya Janata Party (BJP), while in opposition, had repeatedly mocked the Congress-led United Progressive Alliance (UPA) government over a falling Rupee.
Tewari pointed out that in 2013, senior BJP leader and then-party spokesperson Ravi Shankar Prasad had famously remarked: “The worth of the Indian rupee against the dollar was equivalent to Rahul Gandhi’s age when the United Progressive Alliance (UPA) came to power. Today it is equal to Sonia Gandhi’s age, and very soon it will touch Manmohan Singh’s age.”
Tewari underlined that the Rupee’s current exchange rate has now far surpassed even the age of Prime Minister Narendra Modi, driving home the Congress’s charge of economic mismanagement by the incumbent government.
As of Thursday morning, the official Indian rupee exchange rate stood at 90.33 against the US Dollar, marking a fresh lifetime low for the currency.
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