''The rupee ended nearly flat on Thursday after a fall to a nine-month low had sparked mild intervention from the central bank, as emerging market currencies were hit by a weak reading in a private survey of China's manufacturing. The Indian currency ended the day at 61.94, up 0.03% from its previous close of 61.96. The dollar index against six major currencies closed flat at 87.70,'' said ICICIdirect in its report.
ICICIdirect expect 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 61.72-61.82 with target 62.00-62.20.''
''In the currency futures market, the most traded dollar-rupee November contract on the NSE closed at 61.99. The November contract open interest was down 17.31% from the previous day.''
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