Indian rupee steadies as RBI intervention and importer demand offset weakness

The Indian Rupee is expected to open marginally higher on October 20, 2025, after recent interventions by the Reserve Bank of India (RBI) and strong importer dollar demand. One-month non-deliverable forwards indicate a range of 87.94-87.98 per USD, versus Friday’s 87.9750 close. Despite attaining one of Asia’s top weekly performances, the rupee remains vulnerable if it breaks above 88, which may invite further intervention. The outlook is tied to U.S.–India trade developments and global currency trends.