New Delhi: Showing her concern for the decreasing value of rupee, West Bengal Chief Minister Mamata Banerjee said that rupee crashes to its lowest ever and they are very much concerned as the Oil imports bill will now jump.
She went on to say: “Rupee crashes to its lowest ever. We are very concerned. Oil imports bill will now jump.”
In an tweet, Mamata stated: “Prices for vegetables will go up. After demonetisation disaster and now rupee slide, informal sector and small businesses will be further killed. Farmer distress will be compounded.”
The wider trade deficit, along with recent outflow of foreign funds, weakened the Indian rupee to a fresh record low.
At 10.45 a.m., the rupee recovered to 70.23 after it had plunged to 70.32-33 — the lowest ever mark — against the greenback on the back of an apparent intervention by the Reserve Bank of India (RBI).
At the end of the intra-bank trade session on Tuesday, the rupee strengthened by four paise at 69.90 against the dollar, compared to Monday’s close of 69.94 per greenback.