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Analysis: Know the history of decline of rupee in Manmohan and Modi’s mandates

Monday - September 10, 2018 1:11 pm , Category : WTN SPECIAL

Difference between rupees in Manmohan Singh's tenure was 24, and in Narendra Modi mandate is 14

SEP 10 (WTN) - Nowadays there is a lot vociferation everywhere that the rupee is steadily weakening against the dollar. The common man is suffering due to the weak rupee, because the prices of petrol and diesel are increasing day by day. While the rupee is weakening, many people say that Prime Minister Manmohan Singh was knowledgeable scholar of economics, so during his term, the rupee was not so weak against the dollar. Let us know, how much the rupee has weakened during the last five years of Manmohan Singh's tenure, and how much of the rupee dropped, against the dollar in the near about four-year and four-month period of Narendra Modi’s governance.

After the formation of the UPA-2 government, on May 22, 2009, Manmohan Singh took oath as the Prime Minister. On May 22, 2009, the rupee was at 46.830 levels against one dollar. In the 2014 Lok Sabha elections, the UPA was defeated and the NDA government under the leadership of the BJP in the center was formed.

As the new Prime Minister of the country, Narendra Modi took oath on May 26, 2014. Earlier on May 24, the money markets was closed due to the Saturday, and on May, 25 due to Sunday, so on the last day, when the money market was opened on the last day of Prime Minister Manmohan Singh term, that day was 23 May 2014, and that day was Friday. The rupee was at 58.525 levels against one dollar on this day.

That is, in the last five years of Manmohan Singh's prime minister ship, the rupee reached at the highest level of 68.805 against one dollar, its lowest level was 43.830.

That is, if we calculate, then the rupee had increased by 11.695 in these five years. At the same time, if the highest level and lowest level are calculated, then the difference between rupees was 24.975 in these five years.

Now talk about Prime Minister Narendra Modi's tenure. On May 26, 2014, Narendra Modi took the oath of office as Prime Minister, and on this day the rupee was at 58.715 levels against one dollar. That is, today i.e., on September 10, 2018, the rupee is at 72.445 levels against one dollar.

During this period, the rupee reached to the highest level of 72.505, while the rupee dropped at the lowest level of 58.410.

Now, if the position of rupees is calculated in the term of Prime Minister Narendra Modi, then the rupee has increased by 13.730. If the highest and the lowest level are calculated, then it has a difference of 14.095.

Let us now compare and have a comparative study of the decline of rupees in the tenure of both. Manmohan Singh, who is considered to be a knowledgeable economist, had a gap of 24.975 in rupees in his five-year tenure; so far the difference between rupees has come to 14.095 in the rule of Narendra Modi. If we compare of the first and the last day, then the difference between Manmohan Singh's mandates was 11.695, and the difference between the mandates of Narendra Modi till today is 13.730.

Statistics clearly show that there was more difference between the highest and the lowest level of the rupee during Manmohan Singh's second reign. This difference was of 24.975, while the difference between Narendra Modi's governance till now is 14.095. But if we compare the entire tenure, then the difference between Manmohan Singh's mandates was 11.695, then the difference between Narendra Modi's mandates is 13.730 till today.

Note - All the figures are according to the information received from the Internet.





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