Indian rupee opens at 60.32 per dollar; slips 25 paise

The rupee is seen between 59.50-60.75/dollar range, says Pramit Brahmbhatt of Veracity Group.

The Indian rupee opened weak in the early trade on Friday. It slipped by 25 paise at 60.32 per dollar versus 60.07 Thursday.

The dollar is on track for its biggest weekly fall in nine-months early, having given up all of its recent gains as markets become increasingly convinced that any interest rate hike by the Federal Reserve is still a long way off.

The dollar index slips below the 80 mark. The index is down 1.28 percent so far this week.

Also Read - Rupee to hover around 60/USD until May 16: BNP Paribas

Pramit Brahmbhatt of Veracity Group said that, "Indian equity markets are expected to trade low over profit booking after sharp cuts seen across global markets."

"The range for rupee for the day is seen between 59.50-60.75/dollar," he added.

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