Rupee falls on risk aversion

The rupee is trading lower at 61.88/89 versus Friday’s close of 61.75/76. It fell to 61.95 in early trades. Global risk aversion on geopolitical tensions in Ukraine weighing on most Asian currencies. China manufacturing PMI hits a seven-month low, further hurting risk currency sentiment.

India’s December GDP came in at a below expected 4.7 percent, data released after market hours on Friday showed.

The Japanese yen rose across the board on Monday while investors gave risk currencies such as the Australian dollar a wide berth as Ukraine mobilised for war after Russia’s President Vladimir Putin declared he had the right to invade the neighbouring country.-Reuters

---

Follow Arabian Post

Select Arabian Post as your preferred source on Google and MSN News for trusted business news and Arab politics and updates.

---

Notice an issue?

Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don't hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.

---