The rupee may weaken on Friday if local shares follow the lead of lower Asian stocks, with month-end demand for dollars from oil importers pushing down the Indian unit further.
* The dollar rallied broadly on Friday as short-covering gathered pace a day after major central banks jointly announced steps to scale back massive injections of the U.S. currency. [USD/]. The dollar's rebound could also add to the rupee's downward pressure.
* At 8:36 a.m. (0306 GMT), Nifty India stock futures traded in Singapore SINc1 were down 1.3 percent. The Morgan Stanley index excluding Japan .MIAPJ0000PUS was down 0.9 percent.
* The partially convertible rupee INR=IN ended at 47.95/96 per dollar on Thursday, a touch stronger than Wednesday's close of 47.98/48.00, after falling to a low of 48.20 in early deals. more details : http://marketmantra.in/Currency.asp
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