Rupee Weakens on Report RBI’s Rajan Doesn’t Want a Second Term

  • Rajan tells Modi he doesn’t want an extension: newspaper
  • Indian currency retreats 0.3%, reversing earlier gains

Raghuram Rajan, governor of the Reserve Bank of India.

Photographer: Dhiraj Singh/Bloomberg

India’s rupee reversed gains and bonds declined after a local-language newspaper reported that central bank Governor Raghuram Rajan doesn’t want an extension of his term, though Prime Minister Narendra Modi wants him to stay on.

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