At Interbank Foreign Exchange (Forex) market, the rupee commenced weak at 55.72 a dollar from previous close of 55.62.
It immediately touched a low of 55.75 on some weakness in local equities amid month-end dollar demand from importers.
However, with Sensex rebounding in the last 30 minutes of trade on the back of robust capital inflows, the rupee gained and touched a high of 55.58.
With dollar gaining some strength after a short-term weakness, the rupee, however, closed at 55.63 -- a fall of one paisa over Wednesday's closing value.
Since the lower GDP figures are already anticipated by the market players, the April-June GDP figure which is set to be released tomorrow could make rupee to break its narrow range, said Abhishek Goenka, Founder & CEO, India Forex Advisors.
"The rupee traded on strengthening note within a lacklustre narrow range... It, however, shed some of its strength towards the fag end after the sharp dip in EU consumer confidence numbers to a three year low pushed the Euro from its highs," said Pramit Brahmbhatt, CEO, Alpari Financial Services (India).
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