The Indian rupee closed nearly flat at 85.63 against the US dollar, maintaining stability amid subdued Asian foreign exchange markets. This performance follows a large rate cut by India's central bank, which analysts say has squeezed forward premiums and left the rupee vulnerable. The forward premiums on the rupee have retreated in response to the central bank's monetary policy adjustment. The currency's steady close comes ahead of upcoming US-China trade talks, which market participants are closely monitoring.