Rupee falls in morning trade on risk aversion

Tags: Rupee, News
The rupee is trading lower at 61.88/89 versus Friday's close of 61.75/76. It fell

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to 61.95 in early trade.

Global risk aversion on geopolitical tensions in Ukraine is weighing on most Asian currencies.

China manufacturing PMI hits a seven-month low, further hurting risk currency sentiment.

The December GDP data, which came in at a below expected 4.7%, also hurt.

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.

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