Rupee at all-time low: Mahua Moitra's sarcastic jibe at PM Modi

As the rupee hits a record low, TMC MP Mahua Moitra takes a sarcastic jibe at PM Modi. Experts highlight sectors that could benefit from the fall, while the Congress party blames US sanctions for the currency's depreciation.

As the Indian rupee weakens to an all-time low against the United States Dollar, Trinamool Congress MP Mahua Moitra took a sarcastic jibe at Prime Minister Narendra Modi and the Central government on Thursday, saying that it is the "strength and weight" of the Indian currency which is making it fall.

"If something is heavy, it will fall. Our rupee has strength & weight. That's why it's falling," Moitra posted on X, along with a graphic of PM Modi looking down at the falling rate of the rupee.

If something is heavy it will fall. Our rupee has strength & weight. That's why it's falling pic.twitter.com/20V2um5Ln1 — Mahua Moitra (@MahuaMoitra) December 3, 2025

Economic Impact and Expert Views

The Indian Rupee has been among the poorest-performing Asian currencies in 2025, falling by about 4-5%. However, experts have highlighted some sectors that could benefit from the plunging Rupee.

Sunny Agrawal, Head, Fundamental Research at SBI Securities, said export-dependent sectors like Shrimp, Textile, IT, Pharma, Engineering, Metals, and Auto can benefit from the falling Rupee. However, import-dependent sectors such as FMCG, Plastic polymers, Oil and Gas are expected to face cost pressure, he added.

Anindya Banerjee, Head Commodity and Currency, Kotak Securities, said the steady importer demand, particularly from sectors like Oil, Metals, and Electronics, continues to absorb available dollar liquidity.

Congress Blames US Sanctions

Congress, in turn, has claimed that the falling rupee reflects the impact of US sanctions and tariffs and called for addressing the issues to recover the currency.

Speaking to ANI, Salman Khurshid said, "We should consider our strengths. If the rupee is falling in value vis-a-vis the US dollar, why is this happening? Everyone knew that the consequences of the US's attitude towards us of imposing sanctions and tariffs would be felt somewhere. Its consequences are being seen in the rupee's value. This is a long-standing issue, and if it is resolved, the rupee will recover."

On Thursday morning, the Indian rupee exchange rate stands at 90.33 against the US Dollar.

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)