Indian rupee opens at 62.23 per dollar; slips 21 paise

The Indian rupee slipped by 21 paise in the early trade on Monday. It has opened at 62.23 per dollar versus 62.02 on Friday.

The Swiss franc slipped against the euro early today after the Swiss National Bank affirmed its pledge to cap the currency as voters rejected proposals for the Central Bank to boost its gold reserves.

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Agam Gupta of Standard Chartered said," The dollar strength against other currencies is leading a similar move with the rupee too. The demand from the local government banks is persistent and is expected to continue."

He further added, "Foreign inflows are expected to continue and exporters are likely to sell on upticks to Rs 62.50/dollar. We expect to see a range of Rs 62.10-62.50/dollar for the day."