The Indian rupee declined on Friday, pressured by month-end dollar demand from importers, with investors awaiting the outcome of the country's general elections for fresh cues.

The rupee ended at 83.4625 to the U.S. dollar, from 83.3175 in the previous session.

It swung between a session-high of 83.24 and a low of 83.4550, prompting the Reserve Bank of India to likely step in, three traders told Reuters.

For the week, the rupee fell 0.4% and logged its worst week in over two months, but was almost flat for the month.

The rupee could see a "surge" in volatility next week based on the results of the election but its long-term trend will be determined by flows and the RBI's intervention strategy, said Dilip Parmar, a forex research analyst at HDFC Securities.

He sees the rupee in a broad range of 83 to 83.60 in the short term.

India's over six-week-long election will conclude on June 1, with the votes being counted on June 4. Investors are awaiting the exit polls, which project results after voting ends.

The country's equity indices, which were volatile for most of the week, ended flat on Friday.

"The key thing for investors to watch for is whether it delivers a government that has a working parliamentary majority that can push ahead with economic reforms," Capital Economics said in a note.

Meanwhile, Asian currencies were mostly lower before the U.S. core PCE data, which is the Federal Reserve's preferred gauge for inflation.

Recently, investors have dialled back their expectations on the Fed's rate cuts for this year. A rate cut in July is nearly priced out and what happens in September is a toss-up.

(Reporting by Siddhi Nayak; Editing by Savio D'Souza)