Rupee reverses course on dollar outflows, falls below 82.50/USD

The Indian rupee weakened against the U.S. dollar on Wednesday, falling below 82.50 on dollar demand from foreign banks and importers. The rupee last traded at 82.5950 to the dollar, compared with 82.49 in the previous session. The local currency had opened at 82.31. The rupee struggled after the open on dollar demand from foreign banks and from a large public sector bank, according to traders. Foreign banks were likely buying dollars for their custodial