<h1>Rupee falls 48 paise to 88.70 on strong dollar and hawkish central bank commentary, market pressure</h1> The rupee weakened 48 paise to 88.70 against the dollar due to a stronger dollar from hawkish central bank commentary after a 25 bps cut, higher US Treasury yields, month end dollar demand from oil marketing companies, and foreign fund outflows; analysts expect USD/INR to trade around 88.45-89 with a slight negative bias, while weak crude prices offer limited support.