The rupee weakened on Friday as local shares declined, mirroring the bearish mood globally after fears heightened on Europe's debt crisis. The decline in the euro also hurt sentiment.

Rupee

Rupee

* However, likelihood of the Reserve Bank of India's intervention to check any big slide in the rupee may help temper selling. The RBI is suspected to have sold dollars after the rupee hit an all-time low of 52.73 per dollar on Tuesday.

* Traders said the government's decision to throw open its $450 billion retail market to global supermarket giants on Thursday did not provide immediate comfort to the currency since actual investment inflows were not expected to happen soon.

* At 9:41 a.m., the partially convertible rupee was at 52.185/195 per dollar, weaker from Thursday's close of 52.065/075.

* India's main share index was down more than 1 percent.

* The euro dipped to a fresh seven-week low against the dollar on Friday, struggling to find any traction with markets seeing no end in sight for the euro zone debt crisis.