New Delhi, June 28: The health of Indian economy seems to be in the "coma" after report stated that rupee crashed to a lifetime low of 69 against the US dollar. The rupee fell to an all-time low against the US dollar on Thursday by plunging 49 paise in early trade as rising crude oil prices deepened concerns about the country's current account deficit and inflation dynamics.
Consistent dollar demand from banks and importers, mainly oil refiners, following higher crude oil prices kept the rupee under pressure, stated a report by PTI. At the interbank foreign exchange market, the rupee opened at 68.87 a dollar against 68.61 previously and sank to 69.10 in morning deals, falling 49 paise, added PTI.
Amid the gloom in the economy, social media users tried to find some humour. On Thursday, the hashtag--Rupee--was trending on Twitter. Here are some tweets which will surely bring a smile in your dejected face:
#ThursdayMotivation: If you're feeling low in life, take a look at the rupee.— Punster® (@Pun_Starr) June 28, 2018
69 to the dollar?— Ramesh Srivats (@rameshsrivats) June 28, 2018
The #Rupee used to make a lot of sense.
Now it only makes cents.
Things that are going towards their all-time low :— Bollywood Gandu (@BollywoodGandu) June 28, 2018
2. German Football Team
3. Australian Cricket Team
4. Potholes in Mumbai
Then one Twitter handle did his own research by digging out an old tweet of Prime Minister Narendra Modi when he attacked the previous Congress-led United Progressive Alliance government for failing to stop the depreciation of the Indian currency.
#FakeNews. #Rupee— Unofficial Sususwamy (@swamv39) June 28, 2018
As India was under British rule. Rs was pegged to Pounds. From 1927 to 1966, it was 13 rupees = 1 pound. This continued until 1966 when the rupee was devalued & pegged to the U.S. dollar at a rate of 7.5 rupees = 1 dollar. https://t.co/h0Q4wJHWTv
Several leaders of the opposition parties also took to Twitter to attack the Modi government for messing up with the economy.
Dear Modiji,— Randeep Singh Surjewala (@rssurjewala) June 28, 2018
You mocked Dr. Manmohan Singh comparing his age to the value of depreciating ₹, which never really fructified.
Now, ₹ is at a historic low of ₹68.61 to 1$, surpassing your age.
When will it be restored to ₹45 to 1$ as you promised?https://t.co/KFmgdqj6SL
We will not make cheap and crude comments about the PM’s age and the decline in the value of the rupee. But is anybody at the wheel as the Economy goes into free-fall? pic.twitter.com/A1RVcMFNPQ— Sitaram Yechury (@SitaramYechury) June 28, 2018
The unprecedented decline in the value of the Indian rupee reflects the truth about our economic fundamentals. No Spin or PR can hide this. https://t.co/oA6f09Ufdb— Sitaram Yechury (@SitaramYechury) June 28, 2018
Rupee at all time low Modiji :— Kapil Sibal (@KapilSibal) June 28, 2018
Rs 68 .89 to a $
In your pre-poll rhetoric you promised to bring it down to :
Rs 48 to a $
Was that also a jumla ?
Chhapan inch ki chhati ka kya hua ?