The rupee pared initial losses and settled on a flat note at 82.54 against the US dollar on Thursday, supported by a rebound in domestic equities.
At the interbank foreign exchange market, the local unit opened at 82.59 against the American currency and touched a low of 82.66 and a high of 82.48 intra-day.
It finally settled at 82.54 against the greenback, unchanged from its previous close.
In the previous session on Wednesday, the rupee had appreciated 16 paise after the Reserve Bank of India (RBI) hiked the repo rate by 25 basis points.
The dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.36 per cent to 103.03.
The international oil benchmark, Brent crude futures, increased 0.19 percent to USD 85.25 a barrel.
The 30-share BSE Sensex increased 142.43 points or 0.23 percent to close at 60,806.22 on the domestic equities market, while the larger NSE Nifty increased 21.75 points or 0.12 percent to close at 17,893.45.
Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday as they offloaded shares worth Rs 736.82 crore, according to exchange data.
With inputs from Agencies.
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