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Rupee Drifts as Corporate Flows Show Two-Sided Movement
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Rupee steadies in narrow range despite outflows and volatility in forex markets.
The Indian rupee traded with modest gains, drifting to ~₹88.6250 per U.S. dollar amid mixed corporate flows. The currency had hit a record low earlier in the week. Pressure from foreign investor outflows and U.S. policy uncertainties limited upside. One-month forward premia remained steady as exporters offered support via dollar sales.