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The rupee is trading at 60.26/27, off the one-month low of 60.46, but still below the 60.18/19 close on Thursday.
Sentiment for emerging markets has been negative after news of a downed Malaysian airlines jet at the Ukraine-Russia border sent investors to defensive assets.
The rupee faces good resistance at 60.50 levels, which mark the 76.4% Fibonacci retracement level of the April-May election-related dollar decline.
Shares recovered losses, with the 50-share Nifty up 0.2% on global risk aversion.
