Overview

• The currency touched intraday lows near 88.80–88.82 before settling around 88.75–88.76 per dollar, the weakest on record.
• Traders tied the slide to the $100,000 H‑1B fee for new applicants and steeper US tariffs, weighing on IT-linked flows and sentiment.
• Foreign investors sold about Rs 2,910 crore of equities on Monday, with hedging and importer dollar demand intensifying the move.
• Market sources said the RBI provided dollars via state-run banks to limit sharp moves but avoided defending a specific level.
• Exporters see a short-term pricing lift, while import-heavy sectors face higher costs as Piyush Goyal’s delegation pursues trade talks in the US.