The Indian currency opened higher for the fourth consecutive session on increased selling of the US currency by exporters and banks. Besides, weakness in the greenback against some currencies overseas, increased foreign fund inflows, and a higher opening of domestic equities supported the local currency.
Meanwhile, the rupee opened higher by 10 paise at 71.94/$.
On Thursday, the rupee gained 34 paise to close at a two-month high of 71.97/$ on robust foreign fund inflows amid low crude oil prices.
On the economy front, the gap between exports and imports reached $17.1bn in October, compared with $14bn in September, according to data released by the Commerce Ministry on Thursday.
RBI's reference rate for the dollar, meanwhile, stood at Rs72.16, while for the euro it was at Rs81.82. Further, its reference rate for the yen stood at Rs63.55, while that for the British pound sterling it was at Rs93.95.
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