Rupee Remains Near Record Lows, Opens at 88.78 to Dollar

The Indian rupee opened softer at 88.78 per US dollar, pressured by a stronger greenback and widening current account concerns. RBI interventions in the spot market helped contain sharp volatility. The rupee is down about 3.7% year to date, making it one of Asia’s weaker performers. Traders expect near-term pressure to persist as elevated US yields and oil prices weigh on sentiment, while the central bank continues managing liquidity to stabilize currency fluctuations.