The Indian rupee stayed weak around 88.7 per USD, trading close to its all-time low, as renewed US-China trade tensions dampened global risk appetite. This further compounded the pressures the rupee faces from steep US tariffs, tighter immigration rules, foreign outflows, and surging precious metal prices like gold, a key vulnerability given India’s heavy reliance on gold imports. Still, the currency’s decline was limited by frequent central bank intervention, with state-run banks seen selling dollars around the 88.8 level to cap losses. Additional support came from reports of Indian officials visiting the US for trade talks, though traders see little chance of a sustained rebound without tangible progress. On the data front, September’s inflation eased to 1.54%, below market estimates of 1.7% and the RBI’s 2–6% target, fueling bets of rate cuts. This follows the central bank’s dovish remarks on potential future rate cuts during its September meeting, where it kept rates unchanged.