The Indian rupee slipped to around 90.6 per dollar, retreating from recent gains as a broad risk-off sentiment and weakness across Asian currencies weighed on the market. Despite an unexpected pre-market intervention by the Reserve Bank of India, the rupee saw only a marginal uptick on Thursday. While the central bank’s dollar sales sparked an initial rally, the move quickly ran into resistance as importers used the recovery to add fresh hedges, and traders continued to buy dollars on dips. The lack of follow-through after the intervention-led spike reinforced market expectations that the rupee’s downside from current levels is limited, but broader selling pressure persists amid cautious investor sentiment. Adding to the downside, the yuan extended its rally against the rupee, with analysts stating that diverging currency policies in India and China could keep the rupee under pressure.