This Article is From Aug 16, 2013

Rupee fall: 'It's complete financial distress', says BJP

New Delhi: The rupee traded at 61.68/69 versus its previous close of 61.43/44, but well below the record low of 62.03 reached earlier in the session as exporters stepped in to sell the greenback. The BJP has hit out at the government over the downfall of the rupee.

  • Our sense is that what is seen in India is happening due to what is happening all over the world. The rupee worry also spills over to the equity markets and the equity worry spills over to the rupee. It is potentially vicious.
    P Chidambaram, Finance Minister 16/08/2013
  • This has never happened in Indian history. It seems there's a complete financial distress in the country. The way the rupee has become weak against dollar is very dangerous.
    Rajiv Pratap Rudy, Bharatiya Janata Party leader 16/08/2013
  • It is very clear that there is a serious current account deficit. And this was bound to happen as the way India has liberalised its imports. The people in the country should have the capacity to buy them. Foreign investment will not come here as there is no market here. The main issues are to be discussed.
    Sitaram Yechury, CPM leader 16/08/2013
  • All I can say is that when a slave nation than the rupee and dollar were was of same power.
    Meenakshi Lekhi, BJP spokesperson 16/08/2013
  • Only two things have become strong in this government's rule. One is the dollar and the other is the 'damaad' (son-in-law, referring to Robert Vadra). Our rupee has gone weak.
    Mukhtar Abbas Naqvi 16/08/2013


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