The rupee is at 62.41/42, after hitting as much as 62.5050, its lowest since Feb 6.
The unit had closed at 62.33/34 on Thursday.
Traders suspect state-owned banks sold dollars as part of RBI intervention to support the rupee.
Dollar was firmer against most of its major peers after upbeat US retail sales data.
Most Asian currencies fell vs the dollar.
Markets are eyeing November CPI due at end of day.
The rupee is seen in a 62.30 to 62.60 range for the day.