The Congress sharply criticized the central government over the decline in India's foreign exchange reserves

The Congress has sharply criticized the Modi government at the Centre over the decline in India's foreign exchange reserves.

On Saturday, the Congress alleged that dollars are being sold from the foreign exchange reserves to prevent the exchange rate from crossing the ₹100 mark against the dollar.

Writing on the social media platform X, the Congress stated, "The country's foreign exchange reserves have fallen by $38 billion in three weeks. This is because we are selling dollars from the reserves to slow down the rupee's depreciation."

It further added, "If the dollar hits ₹100, Modi's hollow image will suffer a blow—and that is why the country is being made to suffer a loss."

According to Reserve Bank of India data, India's foreign exchange reserves have declined by $18.343 billion to stand at $747.557 billion. These figures pertain to the week ending September 25.

In the preceding week, the reserves had fallen by $14.881 billion, standing at $765.901 billion.