New Delhi

Rajya Sabha Congress MP Vivek K Tankha on Thursday expressed concern over the sharp depreciation of the Indian rupee against the US dollar, saying it is causing economic hardship for ordinary citizens.

Speaking during Zero Hour, he noted the rupee breached the 90-per-dollar mark, its weakest level in history. Tankha said the currency has lost 20–27 per cent of its value over the past five years, with a 5 per cent drop this year alone, making it Asia’s worst-performing currency in 2025.

He warned that the weakening rupee raises import costs, fuels inflation, and hits households and MSMEs. Exports benefit little as many sectors, including textiles, chemicals, and engineering, rely on imported components.

The MP highlighted a high trade deficit of over USD 40 billion in a single month and foreign investor withdrawals exceeding USD 17 billion this year, reflecting concerns over India’s external stability.

Tankha likened the rupee’s fall to a “salary cut without notice,” noting that smartphones, laptops, medical equipment, and other imported goods are becoming costlier.

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The rupee slipped 28 paise to an all-time low of 90.43 against the US dollar in early trade on Thursday amid significant foreign institutional investor outflows and restrained Reserve Bank of India intervention.