Indian rupee has depreciated on Friday against US dollar. Indian currency declined 2 paise or 0.03 percent against dollar to trade at 61.90.

Commenting on outlook for currency, Swastika Investmart, said, ''We expect the rupee to trade on neutral to positive note against the dollar taking cues from upbeat global market sentiments. However, strength in the dollar index may cap sharp gains in the rupee.''

ICICIdirect expect the US dollar to garner buying support on declines against the rupee. ''Utilize declines in the USD/INR December contract to buy. Buy USD/INR December futures in the range of 61.98-62.08 with target 62.25-62.40.''

Meanwhile, Way2Wealth Securities said, ''Despite some weakness in greenback against other major currencies, USDINR closed flat to positive in yesterday's session on the back of month end dollar demand by the importers. Now, for the coming few sessions the factors which will decide the trend of USDINR are GDP data (to be released today evening) and the RBI's monetary policy on Dec 02. Technically it seems that the pair (Dec Fut) is likely to remain in the tight range of 62.70-62.00 levels.''

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