However, a firm US dollar and weak domestic equity markets restricted the rupee movement and the local currency edged lower by 2 paise to 83.25 in early trade.
The rupee closed at 83.27 compared with its close of 83.2325 in the previous session. The currency was rangebound between 83.01 and 83.3325 this week and ended largely unchanged from last Friday
At the interbank foreign exchange market, the rupee opened lower at 83.18 against the US currency. The local unit remained under pressure in the day trade moving in a range of 83.17 to 83.25.
The Indian currency rose 0.23% on Wednesday, its biggest single-session gain since Sep. 20, after hitting a near two-month high of 83.02 earlier in the session.