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The rupee is trading at 62.0550, lower compared with Thursday's 61.8750/8850 close.
Month-end dollar demand from importers is hurting the Indian unit while some foreign banks are also seen buying the greenback.
Some resistance, however, is being seen around 62 levels, preventing a further sharp appreciation in the USD/INR pair.
Nifty is up 1.2% and will be watched for cues on fund flows.
Almost all Asian currencies are weaker against the dollar.
Losses in the euro are also aiding the pair. Index of the dollar against six major currencies is trading up 0.6%.
The rupee seen in a 61.70 to 62.10 range on Friday.
GDP data due post-market hours and the RBI policy review on Tuesday in focus.
