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In early trade on Monday, the rupee fell to 63.33 to a dollar, its weakest level since September 18.
The Chinese foreign minister proposed that 2014 be marked as the "Year of Friendly Exchanges" between the two nations.
China, Russia and India stride two continents, link three oceans and have 40 per cent of the world population.
Russia is the world’s biggest energy exporter while China and India top the list of energy consumers.
Next year has been designated as the "Year of Friendly Exchanges" between the two nations.
Banking is considered to be an increasingly lucrative industry in India.
China and India have begun joint anti-terror drill in southwest China's Sichuan Province on Tuesday.
The 300 day mission will place the country in an exclusive club of nations capable of sending probes to Mars.
The 10-day drill will be formally inaugurated on Tuesday at a designated area close to the city of Chengdu.
A report said BRICS will collectively play a more central role in the post crisis global economy.
