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Reliance Securities Report
The Indian rupee depreciated against the U.S. dollar on Monday and posted the biggest monthly decline in five months, after Russian President Vladimir Putin ordered a military operation in Ukraine, sending investors rushing to safe-haven assets.
The rupee ended at 75.34 per dollar compared with 75.29 on Friday.
The rupee has weakened to an intraday low of 75.75 earlier in today's session, its weakest level since December 20.
For the month, the rupee depreciated by 1%, the biggest drop since September.
However, later by the end of the session, the rupee were off session lows possibly on Reserve Bank of India presence in the markets and talks that Russia and Ukraine are sitting together for peace talks later in the day.
So are the futures March contract, which has gained for the session.
Indian government bond yields rose on Friday and for the third consecutive month as worries over record borrowing in the next financial year and a consistent surge in oil prices due to geopolitical tensions dented appetite.
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