At the interbank forex market, the local unit opened at 74.64 against the greenback and witnessed an intra-day high of 74.54 and a low of 74.73
The euro was up 0.1% against the dollar at $1.1340 after hitting its lowest on Tuesday since Feb. 14 at $1.1286
The Kremlin said it remained open to diplomacy with the United States and other countries as it faced actions from a slew of countries.
The U.S. dollar, edged 0.2% lower at 95.938 against a basket of currencies including the euro, as investors await further developments in the crisis
The rupee depreciated by 31 paise to 74.86 (provisional) against the US currency on Tuesday as riskier assets took a hit amid deepening geopolitical tensions
Russian President Vladimir Putin ordered troops to two breakaway regions in Ukraine, sending the euro one-month volatility to its highest level since November 2020
Forex traders said sustained foreign fund outflows, a lacklustre trend in domestic equities and elevated crude oil prices weighed on investor sentiment.
Euro, which was up 0.6% at one stage during early London trading, slowly abandoned those gains and was up a meagre 0.1% at $1.1336
The euro which was gaining close to 0.6% at one stage during morning trading, slowly abandoned those gains and was up a meagre 0.13% at $1.1334 as of 1224 GMT
Mumbai International Airport has hired a group of banks to arrange a sale of US dollar-denominated bonds to refinance existing debt and for capital expenditure, a bank document showed on Monday.
Rising for the fifth straight day, the rupee extended gains by 11 paise to close at 74.55 (provisional) against the US dollar on Monday on the back of a weak dollar and softer crude oil prices
S&P 500 stock futures rose 0.5%. Nasdaq futures gained 0.3%, having been down more than 1%. U.S. markets are on holiday on Monday, but futures still traded
Reports suggested that the US and Russia have agreed to hold a summit on the Ukraine standoff, calming jittery investors.
In broad terms, moves in currencies aligned with moves in risk sentiment across asset classes.
The rupee spurted by 40 paise, its biggest single-day gain in over three months, to settle at a more than two-week high of 74.66 against the US dollar on Friday on hopes of a diplomatic solution to the East-West standoff over Ukraine. A fall in crude oil prices also supported the local currency, analysts said. At the interbank forex market, the local unit opened at 75.03 against the greenback and witnessed an intra-day high of 74.60 and a low of 75.05. The rupee settled at 74.66, registering a rise of 40 paise or 0.53 per cent over its previous close of 75.06. The rupee had closed the session on Thursday at 75.11 (provisionally) but later settled at 75.06. The proposed US-Russia talks spurred optimism about the volatile geopolitical situation in Ukraine, said Dilip Parmar, Research Analyst, HDFC Securities. "Rupee recouped previous week and most of the current month losses amid long unwinding in dollar, lower crude oil prices and expectation of dollar inflows from LIC IPO," Parmar
At the interbank forex market, the local unit opened at 75.03 against the greenback and witnessed an intra-day high of 74.60 and a low of 75.05
The US Dollar is set to break a two-day losing streak on Thursday, while the Japanese yen gained, after Russia reports of fire in eastern Ukraine jangled market nerves and boosted safe haven bets.
The rupee declined by 7 paise to close at 75.11 (provisional) against US Dollar on Thursday as geopolitical tensions pushed investors towards safe-haven assets.
Forex traders said sustained foreign fund outflows and elevated crude oil prices too weakened the rupee.
Strategists said the minutes suggested policymakers may not be as hawkish as investors feared.