The Indian rupee opened at 60.48 to the dollar, as against Thursday's close of 60.88 to the dollar. The RBI had announced measures last week to suck more liquidity from the system to help push the rupee higher.
The strength in the rupee was largely on strong Asian cues and higher expected openings in the stock markets.
Dealers say the rupee is likely to trade in a range in the absence of major cues. Economic data due today like the IIP data may have little impact on the rupee.
Meanwhile, Indian stock markets are expected to open higher in line with global cues.
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