The Indian Rupee tumbled against the U.S. Dollar in a knee jerk reaction to the news reports in early Thursday's trade that Russia has invaded Ukraine.
The USDINR March futures witnessed continued depreciation throughout the day and tested the 76.00 mark this Thursday.
The Rupee ended at 75.65 this Thursday from 74.56 close in the previous session.
The Rupee also tracked other Asian currencies which also tumbled against the dollar.
Meanwhile, crude oil spike by almost 8% in the afternoon trade and fears that crude will continue this upward momentum and weigh on sentiments.
The U.S. and its allies will impose severe sanctions on Russia and possibly even personal sanctions on Russian President Putin.
However, obviously investors will await the impact of those sanctions.
Indian bond yields rose after oil prices spiked as Russia attacked Ukraine and as traders remain wary ahead of a debt sale on Friday.
The 6.54% bond ended at 6.76%, the highest since February 9, from 6.74%, close in the previous session.
FPI sold net $348.92 million as on 23 February 2022. For the month of February till date, FPI are net sellers of a total of $3510.44 million.
For the monthly February 2022 USDINR options, the most active Put strikes are 74.00, 74.50, 75.00, 75.25, 75.50 and 76.00 and the most active Call strikes are 75.00, 75.50, 76.00, 76.50 and 77.00.