The domestic currency commenced the day strong at 52.96 from Tuesdays close, when it had hit an over three-and-a-half-month high of 53.13.
At the Interbank Foreign Exchange (Forex) market, it hovered in a narrow range of 52.89-53.26, before settling down at 53.13, a loss of three paise, or 0.06%. Foreign institutional investors pumped in $92.03 million (R489.27 crore) into local stocks, according to BSE provisional data.
The euro fell by 0.4% to 1.3528 toward a one-week low versus the dollar as European Central Bank policymakers prepare to meet tomorrow amid political and banking turmoil that threatens to renew the regions sovereign-debt crisis.
Dollar index, a barometer of six major global rivals, was up 0.25%.