The rupee declined by 4 paise to close at 83.33 against the US dollar on Wednesday, tracking a strong American currency against major rivals overseas and weak Asian peers.
However, a surge in domestic markets and a decline in crude oil prices cushioned the downside, forex traders said.
At the interbank foreign exchange market, the local unit opened at 83.33 and touched an intraday low of 83.45 against the greenback.
The local unit finally settled at 83.33 against the dollar, registering a loss of 4 paise from its previous close. On Tuesday, the rupee recovered from all-time low levels and appreciated 32 paise to close a