Rupee forwards slump after RBI governor Urjit Patel’s resignation
Rupee forwards weakened 1.7% on RBI governor Urjit Patel's resignation, which came after the close of regular trading in Mumbai
India’s currency and stocks are set to slide, derivatives indicate, as the surprise resignation of RBI governor Urjit Patel sends a shockwave through markets. Rupee forwards weakened 1.7% on the news, which came after the close of regular trading in Mumbai on Monday. Futures on the Nifty 50 Index of equities fell as much as 1.7% in Singapore.