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Foreign banks lean against broad dollar demand, pin rupee near 87/dollar - REUTERS

AUGUST 20, 2025

MUMBAI, Aug 20 (Reuters) - The Indian rupee was largely flat on Wednesday, holding near 87 per dollar, amid dollar sales by foreign banks, which offset broader demand for the U.S. currency from corporates and short-term speculators.

The rupee was at 87.0575 to the U.S. dollar at 10:52 a.m. IST, after trading between 87.1650 and 87.0050 through the session.

Traders said foreign banks were active on offers for USD/INR, preventing the pair from pushing higher despite weaker Asian peers and hedging by importers.

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