The rupee declined 4 paise to settle at its lifetime low of 83.33 (provisional) against the US dollar on Friday, tracking an upward movement in crude oil prices and foreign capital outflows.

Forex traders said investors were awaiting industrial output and inflation data on the domestic front amid a weak American currency overseas and positive cues from equity markets.

At the interbank foreign exchange, the rupee opened at 83.28 and plunged to 83.49 against the greenback during intra-day.

It finally settled at its record low of 83.33 (provisional) against the dollar, registering a loss of 4 paise from its previous close. Earlier, the currency's lowest closing level was recorded at 83.32 versus the dollar on September 18 this year.

On Thursday, the rupee closed at 83.29 against the American currency.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.02 per cent at 105.89.

Brent crude futures, the global oil benchmark, rose 0.81 per cent to USD 80.66 per barrel.

On the domestic equity market front, the BSE Sensex closed 72.48 points or 0.11 per cent higher at 64,904.68 points. The broader NSE Nifty advanced 30.05 points or 0.15 per cent to 19,425.35 points.

Foreign Institutional Investors (FIIs) were net sellers in the capital market on Thursday as they offloaded shares worth Rs 1,712.33 crore, according to exchange data.

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