<h1>Rupee weakness, H-1B fee hike and GST reforms risk capital flow disruptions under FEMA and RBI oversight</h1> The rupee weakened 5 paise to 88.21 against the US dollar amid a stronger dollar and weaker domestic equities, raising potential regulatory and external balance implications for foreign exchange management under FEMA and RBI oversight. A recent US policy raising H-1B visa fees could legally affect cross-border services contracts, remittances and IT sector margins, potentially triggering capital flow and equity-market reactions. Concurrent domestic GST reforms and ongoing bilateral trade negotiations with the US may influence macroeconomic and trade law outcomes, while rising forex reserves and FII activity are relevant to monetary and exchange-rate policy considerations.