The rupee gained and then lost momentum against the USD to close at 8 paise lower at 87.66 (provisional) on August 11, 2025. The pressure resulting from increased dollar demand by importers and a sharp uptick in crude oil prices didn’t allow the rupee to sustain the early momentum. Forex traders reasoned that the initial gains made by the rupee were wiped off by rising crude oil prices, foreign fund outflows, and, importantly, the importer-led dollar demand. The rupee, which opened at 87.56 at the interbank foreign exchange, remained within 87.48-87.66, finally settling at 87.66, resulting in a drop of 8 paise from the previous close.