USDINR
On Tuesday, The Rupee is very much likely to commence the session with a weaker note between 74.70 – 74.80 levels against the greenback as the safe-haven yen hit a near three-week high and the euro and riskier currencies fell in the early Asian session as Russia ordered troops into breakaway parts of eastern Ukraine and the region stood on the brink of war.
Russian President Vladimir Putin recognised two breakaway regions in eastern Ukraine as independent on Monday and ordered the Russian army to launch what Moscow called a peacekeeping operation into the area.
UN calls emergency meeting, UK, Canada braces for fresh sanctions on Moscow after Putin orders troops inside Donetsk and Luhansk.
The sharp sell-off in Russian assets is a stark reminder that tension remains super high and risk sentiment is being hit across equity, credit and bond markets.
Cryptocurrencies were under pressure, with bitcoin sitting near Monday's near three-week low at $37,102.
Oil prices rose over the stand-off between Russia and the West over Ukraine, adding to supply concerns that have kept oil prices near $100 a barrel.
On Monday, India shares finished with lower levels as investors pulled back from riskier assets after comments from the Kremlin partially dampened hopes of a diplomatic solution to the Russia-Ukraine standoff.
Day Trend: - BUY ON DIP
INTRADAY RANGE – 75.04(74.88-74.50)74.29
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