Indian Rupee Falls Lower than Bangladeshi Taka: Fact Check

Story:

First time in 72 years, Indian rupee is now lower than the Bangladeshi taka …

Other Versions

72 साल में पहली बार “रुपया” बांग्लादेशी “टका” से कमजोर, 1 टका = 1.15 रुपया!
“विकास के देवता की जय”

Fact Check:

A message circulating on social media claims that for the first time in 72 years, Indian rupee (INR) has fallen lower than the Bangladeshi currency Taka (BDT). The message also raises satire and criticizes the Prime Minister of India, Narendra Modi. Amidst financial downfall, many readers in fact believed the story. The claims, however, are not true.

Origin of Claims: Indian Rupee Fell Lower than Bangladeshi Taka

On 25th August 2019, Facebook users Rajneesh K Jha and Dr Vijay Sharma posted the messages in Hindi. They mentioned 1 BDT = 1.15 INR, claiming value of Indian currency has fallen below Bangladeshi and blamed Modi government. Consequently, many users on Facebook, Twitter and other online platforms shared the messages making a viral story.

As a matter of fact, Indian rupee recorded its lowest value of 2019 (Rs 72.18 against USD) on 29th August. According to currency information website xe.com, earlier on 26th August, Indian Rupee INR valued 71.8 with respect to USD when BDT was 83.7. It clearly indicates value of Indian rupee was higher than Bangladeshi taka. As of this writing, 1 INR = 1.18 BDT, i.e. we can buy 1.18 Bangladesh currency taka using 1 Indian rupee. Back on 28th August 2013 also, while Manmohan Singh was the Prime Minister under Congress rule, Rupee went close to 69/USD as the biggest day fall in 18 years. Even at the time, BDT was lower than INR – 1 INR was around 1.13 BDT.

In August 2019, India and other Asian currencies faced downfall in value of their currencies for various reasons like trade tensions between America and China. So, the messages claiming Indian rupee has fallen lower than Bangladeshi taka for the first time in 72 years – is just a hoax. We have seen both the Facebook users (mentioned above) sharing the fake messages have been posting anti-government and anti-Modi messages.