<div>The rupee is at 63.02/63.04 versus its close of 62.93/94, after foreign institutional investors (FIIs) sold a net Rs 598 million in shares on 21 November to snap a 32-day buying streak that totalled Rs 238.84 billion as per exchange and regulatory data.<br /><br />Traders say continued weakness could spark intervention from the central bank.<br /><br />Rallies in US and Japan stock markets are also sparking talk of a shift by global investors to developed markets, with emerging countries with current account deficits such as India seen as vulnerable to future Fed tapering.<br /><br />USD/INR gains also reflecting demand from state-run oil companies, traders say.<br /><br />Still, the Nifty gains 0.5 per cent, recovering from its biggest single-day percentage fall in nearly two months on Thursday, putting a lid on USD/INR gains.<br /><br />The rupee is seen in a range of 62.70/63.30 for the session, traders said.<br /><br />(Reuters)</div>
