USDINR
On Tuesday, The Rupee is likely to commence a session between 74.20 – 74.30 levels as the greenback dollar was down morning in Asia, while the latest policy decision from the Bank of Japan dictated the yen’s moves.
India's benchmark 10-year bond yield hit a two-year high on Monday, tracking an uptick in US yields and a continued rise in global crude oil prices which has raised expectations of rate increases by the Reserve Bank of India (RBI).
The dollar’s weakness came despite a continual rise in U.S. Treasury yields. Yields have been on an upward trend in 2022, with investors expecting the U.S. Federal Reserve to begin interest rates hikes as soon as March.
Indian Prime Minister Narendra Modi said that a collective global effort is needed to deal with the problems posed by cryptocurrencies.
India's Gennova Biopharmaceuticals is working on an Omicron-specific mRNA COVID-19 vaccine candidate, it told Reuters on Monday after a person with direct knowledge of the matter said the product could be ready in a month or two.
Indian shares closed at their highest level in nearly three months on Monday as automakers advanced and UltraTech Cement jumped on strong earnings, but losses in HCL Technologies due to weak margins put a lid on the gains.
Day Trend: - BUY ON DIP
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