8 December 2022

Mumbai: The Nationalist Congress Party ( NCP ) on Monday asked Union Finance Minister Nirmala Sitharaman to explain why the rupee has fallen to an all – time low against the US dollar : The rupee depreciated 43 paise to an all – time low of 81.52 against the US dollar in early trade on Monday as the strengthening of the American currency and risk – averse sentiment among investors weighed on the lo cal unit . At the interbank foreign exchange , the rupee opened at 81.47 against the greenback , then fell to 81.52 , registering a fall of 43 paise over its previous closing .

NCP Asks Sitharaman to Explain
NCP Asks Sitharaman to Explain

The Sharad Pawar – led NCP tar geted Sitharaman for her remarks made at a press conference in Pune on Saturday that the rupee has ” held back very well ” against the US dollar when compared to other cur rencies .

” Can she explain why the rupee has fallen to an all – time low of 81.47 against the US dollar ? If she concentrates more on the finance ministry and less on Baramati, may be she can , ” NCP national spokesman Clyde Crasto said in statement . Against the backdrop of the rupee dropping to a lifetime low against the greenback , Sitharaman on Saturday said the Reserve Bank and the finance ministry are keeping a very close watch on the situation .

” If any one currency which has held its own and did not get into fluctuation or volatility as much as other currencies , it is the Indian rupee . We have held back very well , ” she had told reporters in Pune at the end of her three – day tour of Baramati last week .

The tour was part of the BJP’s campaign to strengthen itself in 144 Lok Sabha constituencies where it is weak , ahead of the 2024 general elections . Out of these 144 seats , 16 are in Maharashtra , including Ba amati , the Pawar family bastion . NCP leader and Sharad Pawar’s daughter Supriya Sule represents Baramati in the Lok Sabha .

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