Overview

• The rupee touched 88.00 in early Wednesday trade, up 15 paise from its previous close yet still near lifetime lows.
• Foreign investors sold Rs 1,159.48 crore of equities on Tuesday, extending outflows that have weighed on the currency.
• Market participants report the RBI is smoothing volatility and curbing disorderly moves rather than defending a specific level.
• Analysts expect a near-term 87.50–88.50 range with scope for slides toward 89.90–90 if tariff uncertainty persists.
• Forex reserves of about $690.72 billion provide room for calibrated intervention to prevent a sudden slump.