feb 23 reuters  most asian currencies inched up on wednesday as investors remained cautious about the russiaukraine crisis and rising interest rates while the thai baht dropped to a week low on indications its economic recovery is likely to be fragile the energy sensitive indian rupee rallied 02 supported by a pullback in oil prices as it became clear the first wave of us and european sanctions on russia for sending troops into eastern ukraine would not disrupt oil supplies the indonesian rupiah and philippines peso gained 01 each but the thai baht dropped 03 to its lowest levels since feb 15 leading losses among its peers minutes of thailand central banks last policy meeting showed the countrys economic recovery in 2022 would remain fragile and uneven read more analysts at bofa said key risks to thailands recovery will come from more variants of the coronavirus a sustained rise in oil and commodity prices from geopolitical events a weakerthanexpected chinese economy and higher inflation the relative lack of riskoff reaction within the fx space suggests a degree of comfort towards the headlines if anything the reaction resembles more of a commodity play than a riskoff play – with commodity currencies continuing to extend ocbc bank said in a note the singapore dollar was little moved after data showed the city states key consumer price gauge rose in january by its fastest pace in nearly a decade read more singapore stocks sti slipped about 03 pressured by a record high covid19 infections a day earlier and dragged lower by a drop in ocbc bankss shares read more overseachinese banking corp ocbcsi singapores secondlargest listed lender said on wednesday it expects overall conditions to improve after it posted a surprise 14 drop in quarterly profit read more meanwhile stock markets in south korea ks11 taiwan twii malaysia klse and indonesia jkse were all up between 04 and 07 south korean shares rose on wednesday after two straight sessions of losses helped by institutional buying although gains were checked by heightening tensions around ukraine read more  india 10year yields notch near 2week high earlier in the day  top losers on the singapore sti sti include overseachinese banking corporation ltd ocbcsi down 426 sembcorp industries ltd scilsi down 359 sats ltd satssi down 143  in the philippines top index losers are ayala land inc alips down 329 universal robina corp urcps down 28 ac energy corp acenps down 237 reporting by savyata mishra in bengaluru editing by lincoln feast