The agency quotes an official as saying the two men, both of them manual laborers in a market, appear to have died from head wounds.
The official said that the investigation "will examine various explanations for the murders, including that of racial hatred."
Fifty-four people were killed last year in racist attacks in Russia.
A THREAT TO CIVIL, RELIGIOUS LIBERTIES: Several leading experts told a briefing hosted by RFE/RL and the U.S. Commission on International Religious Freedom that several mounting trends in Russia are posing a growing threat to human rights, especially for members of the country's ethnic and religious minorities.
LISTENListen to the entire briefing (about 90 minutes):
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