''The rupee rose for a fourth consecutive session on Friday, boosted by strong foreign fund flows into markets. However, the local currency fell against the dollar for the week, in line with losses in other emerging Asian currencies. The Indian currency ended the day at 60.81, up 0.03% from its previous close of 60.83. The dollar index against six major currencies closed at 84.80, up 0.60% from its previous close of 84.29,'' said ICICIdirect in its report.
ICICIdirect expects the US dollar to garner buying support on declines against the rupee. Utilise declines in the USD/INR September contract to buy. Buy USD/INR September futures in the range of 60.82-60.92 with target 61.10-61.30.''
''In the currency futures market, the most traded dollar-rupee September contract on the NSE closed at 60.91. The September contract open interest was up 1.08% from the previous day.''
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