Indian rupee opens at 61.94 per dollar; down 18 paise

The Indian rupee slipped in the early trade today. It has opened lower by 18 paise at 61.94 per dollar versus 61.76 Friday.

The Japanese yen rose across the board this morning, 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 neighboring country.

The safe-haven Swiss Franc was also in favor, rising to its highest in over a year against the Euro. Earlier, the euro hit its highest level against the dollar this year on Friday.

Agam Gupta of Standard Chartered said, "Expect rupee in a range of 61.75-62.15/USD for the day."

"Exporters will look to sell on upticks while the nationalised bank demand will protect the downside for the pair," he added.