<h1>Local currency falls 28 paise to 88.13 as central bank signals slower rate cuts; tariffs and foreign investor outflows weigh</h1> The domestic currency depreciated by 28 paise to close at 88.13 against the US dollar after market participants interpreted the central bank's guidance as signaling slower, phased rate reductions, and the US dollar strengthened. The currency faced additional downward pressure from concerns over prospective foreign tariffs on the country and ongoing foreign institutional equity outflows. Equity indices rose, while oil prices slipped modestly. Policymakers signaled continued pursuit of trade agreements and forecast export growth near 6% year-on-year, which could mitigate medium-term external vulnerabilities but legal and policy risks tied to tariffs and capital flow volatility remain material.