"Tomorrow's WPI numbers shall be in focus as they are expected to move below the three year low on smaller rise or contraction in IIP numbers," Brahmbhatt added.
"The rupee was seen trading in a very thin range of 17 paise. The appreciation in the Euro and the weakness in the dollar index restricted the downside in the rupee. The domestic data like trade deficit did not have long lasting impact on rupee or stock markets" said Abhishek
Goenka, Founder and CEO, India Forex Advisors.
The premium for the forward dollar finished lower on fresh receipts by exporters.
The benchmark six-month forward dollar premium payable in July ended down at 180-182 paise from Tuesday's close of 181-1/2-183-1/2
Far-forward contracts maturing in January settled weak at 344-346 paise from 346-348
The RBI fixed the reference rate for the US dollar at 53.8500 and for euro at 72.3970.
The rupee firmed up further against the pound sterling to 83.77 from last close of 84.02 while fell back against the Japanese Yen to 57.50 per 100 yen from 57.14.
It, however, declined further against the euro to 72.60 from previous close of 72.45.