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Rupee weakens, bond yields rise as Russia-Ukraine crisis deepens

According to currency dealers, there would be a weakening bias to the rupee as long as global headwinds play out

Vladimir Putin
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Russian president Vladimir Putin on Monday ordered the army to send troops into Ukraine’s Moscow-backed regions | Photo: Reuters

Manojit Saha Mumbai
The rupee weakened while bond yields jumped as the Russia-Ukraine crisis deepened, pushing global crude oil prices close to $100/bbl. 

The government’s decision to go ahead with its scheduled auction of bonds this week, after cancelling the previous two auctions, further hurt sentiment in the bond market.

On Tuesday, the rupee weakened around 36 paise against the dollar, which closed the day at Rs 74.85. 

According to currency dealers, there would be a weakening bias to the rupee as long as global headwinds play out. The domestic currency could slip beyond the 75/$-mark soon.

“Rupee fell after Russian President Vladimir Putin ordered the deployment

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First Published: Feb 23 2022 | 12:07 AM IST

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