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Markets Fall After Federal Bank Chief Announces Decision To Quit

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Mumbai, June 20 (ANI): Rupee slipped to its weakest in nearly a month, while stocks fell and bond yields rose after central bank governor Raghuram Rajan's surprise announcement over the weekend that he would quit after his term ends in September. The central bank was spotted selling dollars to curb the fall in the local currency. Sunil Shah said that the markets had started showing signs of recovery already. He added that the reaction of foreign portfolio investors will only be known eventually.

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