The rupee should weaken early on Friday against the backdrop of weak regional currencies and stocks.
At 0255 GMT, the MSCI index of Asian stocks ex-Japan was down 0.85% while the Nifty India futures traded in Singapore shed 1.03%, suggesting a lower start to the domestic market.
The partially convertible rupee is expected to move in a range of 44 to 44.30 per dollar, traders said. It had closed little changed at 44.07/08 on Thursday, a day after hitting a near 35-month-high of 43.8550 during trade.
Traders said month-end dollar demand from oil refiners could weigh on the rupee, while some weakness in the dollar versus major currencies could limit a sharp downside.
The index of the dollar against six major currencies was down 0.08% 74.163 points, and below 74.271 points when the rupee market closed on Thursday.
