The continuous slide of Indian rupee against the US dollar continues as the Indian currency lost its value by 99 paise on Thursday to close at an all-time low of 80.95 (provisional) against the US dollar.
According to news agency PTI, forex traders said the strength of the American currency in the overseas market, a muted trend in domestic equities, risk-off moods and firm crude oil prices weighed on the local unit.
Prime Minister Narendra Modi had often attacked the then Manmohan Singh government over the devaluation of the Indian currency against the US dollar when he was in the opposition.
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Modi’s supporters such as Sri Sri Ravi Shankar and Ramdev too had promised that the rupee would gain strength under the BJP government.