INSUBCONTINENT EXCLUSIVE:
On Monday, the rupee weakened by 50 paise or 0.7 per cent against the dollar to 71.32.Rupee and bonds plunged following Reserve Bank of
India Governor Urjit Patel's unexpected resignation after market hours on Monday shocked investors.Concerns about likely mixed results from
crucial state elections later on Tuesday also kept traders wary.The rupee came off earlier lows at 72.1350 to the dollar after opening at
72.46, but was sharply lower from its close of 71.35 on Monday.The 10-year benchmark bond yield rose to 7.64 per cent from 7.59 per cent at
the previous close.The broader Nifty opened down 1.3 per cent but recovered some of its losses and was 0.9 percent lower.Investors will
await state election results for further trading cues during the day.The RBI governor resigned abruptly after a months-long tussle over
policy with the government that has raised concerns about the central bank's independence as a national election nears.On Monday, the rupee
weakened by 50 paise or 0.7 per cent against the dollar to 71.32.For the latest News Live Updates on Election Results from each assembly
constituency in Madhya Pradesh, Rajasthan, Mizoram, Chhattisgarh, Telangana, like us on Facebook or follow us on Twitter for updates.
