Sushil Finance expects USDINR is likely to trade on the negative note on the back of profit booking after the sharp rally in the pair. Indian markets rallied on Thursday, with the rupee posting its biggest single-day gain in seven months and rebounding from a 13-month low, after the U.S. Federal Reserve said it would take a ''patient'' approach in deciding when to raise interest rates.

Reserve Bank of India Governor Raghuram Rajan had called the prospect of U.S. rate hikes a risk to emerging markets given expectations that overseas investors may pare their bets on higheryielding debt of countries such as India.

Indian shares and bonds also benefited as Russia's rouble stabilised after dramatic falls this week, reducing some of the fears of financial contagion to emerging markets.

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