The Indian rupee slipped to around 90.2 per dollar, extending losses for a second session as global trade tensions intensified following US President Donald Trump’s announcement of a 25% tariff on countries conducting business with Iran. Market sentiment was weighed down as India, which already faces 50% tariffs on exports to the US, could incur additional costs, with half of the existing duties being reciprocal and the remaining 25% imposed as a penal levy on crude oil imports from Russia. Separately, RBI’s currency measures provided some moderation to the pressure, with the central bank set to conduct a $10 billion foreign-exchange swap on Tuesday. Under the operation, the RBI will purchase dollars and inject rupees in the first leg, to be settled on Friday, before reversing the transaction three years later. Market focus is on the cut-off rate, with analysts noting that such auctions allow the RBI to manage forward short positions efficiently while absorbing excess dollar liquidity.