Indian rupee has weakened on Wednesday against US dollar. Indian currency fell 4 paise or 0.07 percent against dollar to trade at 60.48. Rupee has witnessed a high of 60.44 and a low of 60.51. Its 52-week range was 58.34-68.84. The Dollar index, a measure of the value of the US dollar relative to a basket of foreign currencies, fell 0.06 percent to trade at 82.60.

ICICIdirect expect 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 60.70-60.80 with target 60.96-61.08.''

''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 4.54% from the previous day,'' it added.

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