On the domestic equity market front, the BSE Sensex tumbled 306.22 points or 0.46 per cent to 66,102.17. The broader NSE Nifty declined 73.60 points or 0.37 per cent to 19,720.40.
The rupee closed at 83.2625 against the U.S. dollar, slightly weaker than its previous close of 83.2425. The local unit posted a weekly loss of 0.1%, marking its third consecutive week of decline.
The dollar index was little changed at 105.7, hovering near a two-week low, after minutes of the U.S. Federal Reserve s latest meeting showed policymakers taking a cautious stance.
The rupee has turned "agnostic to movements in other currencies", said Abhilash Koikkara, head of forex and rates at Nuvama Professional Clients Group.
Mumbai, Oct 11 (PTI) The rupee continued its gaining momentum for the second consecutive day and appreciated 7 paise to settle at 83.18 (provisional) against the US dollar on Wednesday amid robust buying in domestic equities and a weak American currency overseas.