Rupee edges lower due to dollar demand from foreign banks
MUMBAI, Dec 27 (Reuters) – The Indian rupee weakened on Wednesday, pressured by dollar demand from large foreign banks, even as most of the local unit’s Asian peers ticked higher. The rupee was at 83.2475 against the U.S. dollar as of 10:00 a.m. IST, lower by 0.07% compared to its close of 83.1925 in the previous session. The dollar index was little changed in Asian hours at 101.5 but continues to hover close to its weakest level since late July. Most Asian currencies were up between 0.1% to 0.5% on the day. But the rupee weakened slightly due to dollar