The Indian rupee stayed weak at around 88.7 per dollar, hovering near a lifetime low, as US policy moves continued to weigh on the currency. Market sentiment remained under pressure from the steep 50% US tariff on key Indian goods linked to measures on Russian oil imports and was further dented by recent tighter immigration rules. While the Reserve Bank of India has been actively intervening to curb volatility, allowing a controlled depreciation, the currency continues to face downward pressure due to hedging mismatches and foreign outflows. In addition, the central bank’s dovish remarks on potential future rate cuts in its latest meeting are also weighing on the rupee. Governor Malhotra kept repo rates unchanged and the policy stance neutral, stating that the central bank focuses on managing volatility rather than targeting a specific rupee level. Elsewhere, the US dollar strengthened as investors weighed the impact of an ongoing government shutdown after another failed funding deal.