<h1>Rupee recovers to 88.60 amid tariff proposals, visa fee hike and outflows, raising contractual, force majeure and compliance risks</h1> The rupee's modest recovery to 88.60 against the dollar follows pressures from proposed tariffs, a US visa fee increase and sustained foreign portfolio outflows, raising market and legal risks for trade- and services-related contracts. Exchange volatility and capital flight may trigger covenant breaches, force majeure claims, renegotiations of cross-border service agreements, and heightened regulatory scrutiny. Key indicators cited include resistance/support levels for USD/INR, a softer dollar index and lower crude prices. A government trade minister's delegation is engaging in bilateral negotiations in the US, which could yield treaty or tariff adjustments affecting contractual and compliance obligations.