India’s rupee stabilized near 87.61 per USD on Thursday after five consecutive sessions of losses, supported by suspected RBI dollar sales and a softer greenback. The move helped prevent a retest of the 87.95 record low. Traders cited Fed rate cut bets after comments by New York Fed President Williams, and political pressure from President Trump’s attempt to replace Fed Governor Cook with a dovish nominee. Domestic demand kept India’s economy steady in July, though authorities warned that rising global protectionism could weigh on activity.