"There was some demand from some large banks including the State Bank of India (SBI), but it waned away in the later hours of trading," a senior dealer with a forex brokerage said. The rupee ended at 605/61, after touching an intra-day low of 43.62. "There were bids from state-run banks in the pre mid session. Thin volumes, however, checked the rupee's fall," a state-run bank dealer said.

The RBI fixed its reference rate for the US dollar at 43.61 as compared to 43.59 on Thursday. At close, cash/spot was quoted at 1/1.5 paise, cash/tom at 0.75/1.25 paise and tom/spot at 0.25/0.5 paise.

FORECAST: Rupee's movement will depend on sustained buying or selling by large banks on Monday.