<h1>Rupee drops 48 paise to 87.66 amid foreign fund outflows and US tariff uncertainties</h1> The domestic currency depreciated by 48 paise to close at 87.66 against the US dollar, influenced by sustained foreign fund outflows and uncertainties surrounding trade tariffs. Concerns over potential disruptions in global trade, triggered by US tariff policies, alongside dollar demand from oil companies, contributed to the decline. The central bank commenced a three-day monetary policy review, with decisions expected shortly. Additionally, a recent foreign exchange swap maturity led to liquidity adjustments, impacting the rupee's value. Despite a weakening rupee, domestic equity markets showed gains, while foreign institutional investors sold equities significantly. Economic indicators from the US, including lower-than-expected job growth, influenced currency movements, with expectations that upcoming policy decisions and factory order data will further affect the exchange rate.