''The rupee gained on Friday, recovering from its nine-month low hit in the previous session as sentiment improved after China cut interest rates and as domestic shares soared to record highs ahead of the start of the winter session of parliament. The Indian currency ended the day at 61.76, up 0.29% from its previous close of 61.94. The dollar index against six major currencies closed at 88.28, up 0.66% from its previous close of 87.70,'' 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 November contract to buy. Buy USD/INR November futures in the range of 61.49-61.59 with target 61.49-61.59.''

''In the currency futures market, the most traded dollar-rupee November contract on the NSE closed at 61.79. The November contract open interest was down 8.11% from the previous day.''

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