Rupee has now crossed age of 'margdarshak mandal': Congress' dig at govt

The Congress on Thursday took a dig at the government after the rupee almost touched the Rs 80-mark against the US dollar, saying the currency has crossed the age of "Margdarshak Mandal".

The Congress on Thursday took a dig at the government after the rupee almost touched the Rs 80-mark against the US dollar, saying the currency has now crossed the age of "Margdarshak Mandal".

Former party chief Rahul Gandhi in a tweet said, "Rupee at 40 : 'Refreshing'. At 50 : 'India in crisis'. At 60 : ICU. At 70 : Atmanirbhar. At 80 : Amritkaal."

Congress general secretary Randeep Surjewala took a dig at the government, saying, "Now the Rupee has crossed the age of Manrgdarshak Mandal.How much will it fall further. How much further will the government's credibility fall. Wah Modi ji," Surjewala said using the hashtag "#FallingRupeeDestroyingEconomy".

The "Margdarshak Mandal" is a group of mentors comprising BJP veterans.

The rupee edged closer to the historic low of 80-mark against the US dollar as it declined by a little over 18 paise to settle at 79.9975 amid a stronger greenback in overseas markets.

While wholesale inflation remained double-digit for 15 straight months to June, expected deterioration in the country's current account deficit and forex outflows dragged the local unit near to the psychological low level of 80 against the greenback.

A sharp correction in crude oil prices in the past few days, however, has been a breather for the local currency, analysts said.