The rupee gains, largely driven by dollar selling on bunched up inflows after thin volumes seen during a two-day strike that ended on Thursday, say dealers.
The pair is at 54.35/36, 54.5350 intraday high, versus Thursday's close of 54.47/48.
Flows seen from custodial as well as state-run banks.
Some dealers cite inflows related to TPG Capital's $305 million stake sale in commercial vehicle financier Shriram Transport Finance Co Ltd
Dollar continued at near a 5-1/2-month high against a basket of currencies on Friday, with the euro tumbling to a six-week low.