ICICIdirect expects the US dollar to garner buying support on declines against the rupee. ''Utilise  declines in the USD/INR October contract to buy. Buy USD/INR October futures in the range of 64.66-64.76 with target  64.96-65.15.''

The rupee regained its gaining streak and appreciated to a near two month high against the US dollar, as the Federal Reserve's meeting minutes indicated the central bank was in no hurry to raise interest rates because of global slowdown concerns. The Indian currency ended the day at 64.74, up 0.48% from the previous close of 65.05. The dollar index against six major currencies ended at 94.89, down 0.37% from the previous close of 95.24.

In the currency futures market, the most traded dollar-rupee October contract on the NSE ended at 64.93. The October contract open interest was up 0.63% from the previous day. November contract open interest was up 3.55% from the previous day.

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