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The rupee depreciated 4 paise to close at 82.83 against the US dollar in early trade on Wednesday, weighed down by a dull trend in domestic equities.
Forex traders said, however, that fresh foreign fund inflows and a weaker American currency against key rivals limited losses in the domestic unit.
At the interbank foreign exchange, the domestic unit opened flat at 82.79 against the dollar. Later, it closed at 82.83, registering a decline of 4 paise over its previous closing price.
The rupee had closed at 82.79 against the dollar in the previous session on Tuesday.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, slipped 0.09% to 104.01.
Global oil benchmark Brent crude futures rose marginally by 0.06% to $83.10 per barrel.
In the domestic equity market, the 30-share BSE Sensex was trading at 60,393.31, down 279.41 points or 0.46%. The broader NSE Nifty fell 86.55 points, or 0.49%, to 17,740.15.
Foreign institutional investors (FIIs) emerged as net buyers in the capital market on Tuesday as they bought shares worth ₹525.80 crore, according to exchange data.