''The Rupee weakened on Friday as sentiment remained subdued due to concerns about financial contagion from the tumbling Russian currency and also as Indian Equity markets remained under selling pressure. The Indian currency ended the day at 63.30, down 0.29% from its previous close of 63.11. The dollar index against six major currencies closed at 89.62, up 0.04% from its previous close of 89.59,'' said ICICIdirect in its report.

ICICIdirect expects the US dollar to garner buying support on declines against the rupee. ''Utilize declines in the USD/INR December contract to buy. Buy USD/INR December futures in the range of 63.11-63.21 with target 63.37-62.55.''

''In the currency futures market, the most traded dollar-rupee December contract on the NSE closed at 63.42. The December contract open interest was up 10.19% from the previous day,'' it added.

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