The rupee on Friday lost 19 paise against the dollar at 63.30 at close as initial gains were washed out on account of strong demand for the US currency from oil companies even as stock markets were bullish.
Finance Minister Arun Jaitley in Parliament, however, said there was "no serious crisis" for the domestic currency as it was stabilising after a few days of "volatility".
"I don't see any serious crisis on the real value of rupee," he asserted.
The rupee had plunged to 13-month low of 63.53 earlir this week amid chaos in global financial markets caused by volatility in Russian currency rouble.
Rupee weakness was also aided by investor fears that US Fed Reserve in December 16-17 meet would start the process of rate hike that would have sucked up liquidity in emerging markets, including India. Much to the relief of investors, the Fed said a rate hike was unlikely in the short-term.