RBI on Monday fixed the reference rate of the rupee at 66.9771 against the US dollar and 71.0560 for the euro.
India's foreign exchange reserves dropped by USD 360.9 mn to USD 362.785 bn in the week to Feb 10.
Some market watchers say it is early in Patel's tenure and that he should be given more time.
Reserve Bank Governor Urjit Patel today said India's economic growth will make a "sharp V" recovery following the recall of old 500 and 1,000 rupee notes
The RBI proposed to drastically cut Merchant Discount Rate (MDR) charges on debit card payments from Apr 1 with a view to maintain momentum of digital transactions.
Government bonds (G-Secs) gained further following sustained demand from corporates and banks.
The remonetisation situation with regard to replenishing the scrapped currency is almost normal now and the RBI is monitoring the supply on a daily basis, Jaitley said
Bank of Baroda Ltd, India's second-biggest state-controlled lender by assets, expects the rate of growth in bad loans to slow in the coming financial year.
A measure of U.S. inflation expectations rose for a second straight month in January to its highest level since mid-2015.
RBI said it needs to be careful on divulging the post-demonetisation deposit amount as the figure needs to be verified first.