<h1>Rupee hits record low near 88.80 per dollar amid foreign outflows, trade tariffs and central bank interventions</h1> The rupee declined to a record low of 88.80 per US dollar, pressured by sustained foreign portfolio outflows and global trade uncertainties, while lower crude and a softer dollar limited the fall. Markets await the Reserve Bank of India's Monetary Policy Committee decision. Traders reported central bank dollar interventions to stem volatility. The report notes recent large equity sell-offs by foreign institutional investors and cites the US imposition of large tariffs on Indian exports, including a new 100% tariff on branded/patented drugs from Oct 1 except for firms establishing US manufacturing, factors affecting currency and market stability.