It wasn’t all that rosy for the rupee on August 20, 2025, as it dealt with early losses before recovering smartly to settle at 87.07 (provisional) against the USD. The day's journey saw the rupee gaining by 6 paise amid increased risk appetite across global markets. Easing tensions over trade tariffs and increased hopes of peace between Russia and Ukraine encouraged investors, according to forex traders. The proposed GST reforms and a recent credit rating upgrade have further boosted investors’ confidence in the Indian economy. The day’s first half saw a decline in the rupee against the strong USD and a growth in crude oil prices. However, the gains in domestic markets and potential foreign fund inflows amid favorable market cues helped the rupee recover.