Reuters Market Eye - The rupee is trading at 59.67/68 versus its Thursday close of 59.57/58, still not far from its record low of 59.9850.
Dealers cite inflows related to Essar Steel's $1 billion overseas borrowing, around $300 million of which is estimated to hit on Friday.
Essar Steel has raised $1 billion through external commercial borrowings (ECB), which would help it save 4.5 billion rupees annually in interest, the company said on Thursday.
"The gap between 58.98 and 59.50 has to be filled up and (I) feel in a couple of days we will see that gap filled up," says a foreign bank dealer.