ICICIdirect expects the USD to meet supply pressure at higher levels. ''Utilise upside in pair to go short on USDINR. August futures in the range of 64.20-64.30 with target  64.00-63.90.''

The rupee posted its first weekly loss in five weeks against the USD, and its steepest in about nine months, as rising geopolitical tensions between North Korea and the US fuelled global risk aversion.

USD fell against major currencies weighed down by geopolitical risk escalation between US and North Korea. US CPI inflation growth in July was lower at 0.1% vs. expectation of 0.2%. USDJPY has found supports near 109 level as risk concerns over North Korea subsided. Euro posted sharp gains on the back of a recovery in risk-on sentiment.

In the currency futures market, the most traded dollar-rupee August contract on the NSE ended at 64.25. The August contract open interest declined 1.12% from the previous day. September contract open interest increased 3.17% in the previous session.

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