<h1>Rupee hits intraday record low, raising FEMA and central bank mandate questions amid tariffs, visa fee hikes, and risk aversion</h1> The rupee's intraday depreciation to a record low against the US dollar raises regulatory and policy considerations under foreign exchange and central banking frameworks, as market participants cite enhanced US tariffs, increased H-1B visa fees and global risk aversion as drivers. Limited direct intervention by the central bank has allowed volatility, implicating reserve management and market-stabilization tools under FEMA and central bank mandates. Reduced remittances and services exports could affect balance-of-payments metrics. Ongoing government trade negotiations with the US aim to address trade frictions that may mitigate further currency stress.