Easing crude prices and foreign fund inflows supported the rupee and restricted the downfall.
At the Interbank Foreign Exchange, the rupee opened on a weak note at 72.03 then fell further to 72.11 against $.
Forex traders said the domestic unit is trading in a narrow range ahead of the RBI monetary policy decision on Thursday.
The rupee moved up to trade at 71.66 following strong gains in equity markets.
At the interbank foreign exchange, the rupee opened at 72.00 then fell to 72.09 against the $, showing a decline of 67 paise over its previous closing.
The rupee weakened further by 9 paise to 64.27 against the dollar in early trade on Friday at the forex market on increased demand for the American currency from importers and banks