The Indian rupee remained confined within a narrow 10-20 paise trading band around ₹88.60–88.80 per US dollar on November 13 after persistent dollar demand and weak foreign portfolio flows. The Reserve Bank of India (RBI) has repeatedly stepped in to cap the currency’s fall past ₹88.80, limiting downside while nearly US $1 billion has flowed out of Indian equities so far this month. The intervention follows foreign investor equity withdrawals of about US $17 billion in 2025. With global risk appetite improving and trade talks ongoing, the rupee may test wider bands unless flows improve.