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The rupee pared its losses to end marginally higher at 68.03 against the dollar.
The rupee opened the day lower at 68.19. It hit a low of 68.23 and a high of 68.03 in intra-day deals.
Forex dealers said, increased demand for the dollar kept pressure on the rupee. However, a stronger domestic equity market capped the fall and helped the domestic unit to recover its losses.
The rupee had gained 8 paise to close at 68.07 on Wednesday on selling of dollars by banks and exporters amid lower greenback overseas.
The forex market remained closed yesterday for the Republic Day.
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