''The rupee rose for a third consecutive session on Tuesday as expectations of more reforms continued after the government announced it would auction coal blocks. However, broader gains were capped by a rising dollar globally. The Indian currency ended the day at 61.31, up 0.08% from its previous close of 61.36. The dollar index against six m,'' 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 October contract to buy Buy. USD/INR October futures in the range of 61.07-61.17 with target 61.34-61.50.''

''In the currency futures market, the most traded dollar-rupee October contract on the NSE closed at 61.35. The October contract open interest was up 5.12% from the previous day.''

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