<h1>Currency slips to 87.16 vs USD as hedging, exporter flows, negative equities, and geopolitical risks pressure markets under FEMA/RBI rules</h1> The domestic currency depreciated slightly to 87.16 against the US dollar in early trade, reflecting weak regional peers, negative equity trends and anticipation of geopolitical talks and a major US central bank speech; market participants cite hedging by importers and exporter flows. Foreign institutional investors net-sold equities while buying domestic debt. Observed developments - including possible US tariff measures on energy imports - create policy and market risk for exchange-rate stability. Relevant regulatory oversight under foreign exchange and central bank frameworks (FEMA/RBI) may influence hedging, intervention and reporting obligations for market participants.