# Rupee falls by 1.5% after Urjit Patel’s unexpected resignation | Business News

> The rupee fell about 1.5% to 72.46 per dollar after RBI Governor Urjit Patel resigned abruptly, citing personal reasons, nearly ten months before his term ended. Investors worried about further outflows from Indian markets. Rating agencies said they were watching the development, and state election counts were underway.

- Date: 2018-12-11 · published 2018-12-11T12:00:00.000Z
- Category: macro · region India · magnitude medium
- Page: https://feedsoft.ai/events/61853-rupee-falls-by-1-5-after-urjit-patel-s-unexpected-resignation-business-news
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Concerns about central bank independence and possible capital outflows weaken the rupee, raising the dollar cost of India's imports.

## Read by commodity

- USDINR: bullish ▲

## Sources

- hindustantimes.com: https://www.hindustantimes.com/business-news/rupee-falls-by-1-5-after-urjit-patel-s-unexpected-resignation/story-t2IeHvcuiESQHyZDe1MeAL.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.