The Indian rupee slipped towards 90.7 per dollar, retreating from the previous session, pressured by importer hedging and weak domestic equities. Persistent dollar demand from importers covering obligations at lower rupee levels added immediate buying pressure. At the same time, weak domestic equities and erratic foreign flows, including over $800 million of equity sales on Friday, limited any post-US-India trade deal recovery and reinforced rupee weakness. Last week’s surprise RBI intervention, aimed at signaling a preferred trading range near 91, helped cap further losses, though one-time dollar payments and ongoing hedging activity kept the currency under strain. The lack of follow-through after intervention-led spikes underscores that while the rupee’s downside is limited, selling pressure persists. Traders expect the rupee to remain supported near 90.60–90.65, with resistance around 91.