Reserve Bank of India Governor Urjit Patel 'has had enough' and resigns. drops against – biggest 2-day drop in 5 years.
The abrupt resignation comes after months of friction between the central bank and government over policy issues relating to interference and governance.
Resignation should have no bearing on monetary policy direction as the Monetary Policy Committee (MPC) looks at inflation as a key variable for policy decisions.
Indian rupee to trade in the 69-72 range whilst be believe equities will do well next year.