The Rupee closed weaker as the dollar strengthened sharply against major currencies on Monday ahead of the US Federal Open Market Committee's two-day meeting, dealers said. The meeting is scheduled to begin later today. In its two-day monetary policy meeting, the US Federal Reserve is expected to lay the groundwork for a rate hike when it meets again in March and also provide cues on whether it will speed up the end of its bond buying programme to curb surging inflation. Market participants are also keeping an eye on the rising geopolitical tensions worldwide, with Russian troops massing at Ukraine's borders, which could also dampen sentiment for riskier assets including the Indian rupee.......
Asian indices opened lower today tracking the US markets, which were volatile due to concern among investors over tightening of the monetary policy. Losses in the US stocks futures and tension between the US and Russia over Ukraine also weighed on the sentiment. A two-day US policy meeting of the US central bank is scheduled to start later in the day, with investors watching out for more signs on how fast the Fed will increase interest rates and shrink its balance sheet. Investors also focused on the rising geopolitical tensions, where Russian troops are massing at Ukraine's borders. In the latest development, the US was putting as many as 8,500 troops on heightened alert for deployment to bolster the North Atlantic Treaty Organization forces in Eastern Europe, if needed.......