Snapping its two-week-long gaining spree the rupee ended lower by three paise at 44.70/71 against the US currency on mild dollar demand from banks and importers on the back of a firm dollar overseas.
The rupee lost ground in the later part of the trade, which saw some buying from importers, dealers said.
Moreover, choppy equity markets weighed heavy on the currency, they added.
Meanwhile, 10-year bond yields were at their lowest level in more than three weeks on speculation the central bank will temper the pace of interest-rate increases as economic growth slows.
GDP rose 7.8% in the three months ended March 31 from a year earlier, the smallest gain in five quarters, a government report showed May 31.