The stock markets also fell but recovered towards the closing and nationalised banks sold dollars to check the depreciation of the rupee," said Anil Kumar Bhansali, vice president at Meclai Financial. For the week, the rupee dropped 0.5%, its second weekly fall in four. Indian shares fell on Friday to mark their biggest weekly decline in eight as profit-taking hit blue chips such as Reliance Industries for a third consecutive day, extending the weak start to 2014. The rupee has already shed 0.6% in the new year, tracking weaker emerging Asian currencies such as the Indonesian rupiah as hopes of a recovery in the United States have strengthened the dollar. In the offshore non-deliverable forwards, the one-month contract was at 62.66, while the three-month was at 63.53.