The rupee traded at 61.8775/8800 against Thursday's close of 61.94/95.
Record high local stocks boosted sentiment for the rupee.
Profit-booking also weighed on pair after USD/INR hit a nine-month high on Thursday.
State-owned banks bought dollars around 61.84/85 for oil companies, a trader said.
The rupee is seen in a 61.80 to 62.00 range until close.
Copyright: Thomson Reuters 2014
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