The rupee consolidated in a narrow range and settled higher by 1 paisa at 83.51 against the US dollar on Tuesday, amid a negative trend in domestic equities and strong dollar demand.
Forex traders said elevated significant foreign fund outflows in the international market dented investors' sentiments.
At the interbank foreign exchange market, the local unit opened at 83.48 against the greenback. The unit hit an intra-day high of 83.47 and a low of 83.52 against the greenback.