The Indian rupee fell on Tuesday’s trade after the surprise exit of RBI governor Urjit Patel with immediate effect. Currently, the local currency is down by 91 paise at 72.25/$.
The currency tumbled 114 paise in early morning trade to 72.46/$ compared to yesterday's close of 71.32/$. The 10-year benchmark bond yield rose to 7.64% from 7.59% at the previous close.
Also, the swings in global crude prices at the backdrop of global financial turmoil amid concerns over US-China trade war has heightened the volatility in the rupee.
On the economy front, provisional figures of direct tax collections up to November 2018 show that gross collections are at Rs6.75 lakh cr, which is 15.7% higher than the gross collections for the corresponding period of last year.
RBI's reference rate for the dollar stood at Rs71.32, while for the euro, it was at Rs81.57. Further, its reference rate for the yen stood at Rs63.43, while that for the British pound sterling, it was at Rs90.91.
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