Rupee opens at 59.75 per dollar, down by 8 paise

Mumbai: Rupee has opened at 59.75 per dollar on Friday, down by 8 paise compared to previous day's closing value of 59.67 per dollar.

Pramit Brahmbhatt of Alpari said the rupee is likely to trade in positive zone on Federal Reserve's statements, a weak dollar and positive equity markets.

According to him, the range for the rupee is seen between 59.41-60.31 per dollar.

He expects May Index of Industrial Production (IIP) to come in between 2.5-3 per cent, which is expected to be announced later in the evening.