The rupee hovered near ₹95.83 to the US dollar as foreign investors pulled out $9.7 billion from Indian markets over the past month, marking the heaviest selling since February. The currency has been under pressure from the outflows, as global investors moved money to safer assets amid rising geopolitical tensions. The Reserve Bank of India has been intervening in the foreign exchange market to smooth volatility and prevent a disorderly slide. Dealers said the central bank was likely to keep managing the fall in an orderly way rather than defending any particular level. Analysts said the outflows were driven more by global risk sentiment than by India’s domestic economic performance. A weaker rupee makes imports costlier, which can feed into inflation, but it also makes Indian exports more competitive. The RBI’s actions will be watched for signals on how much depreciation the central bank is comfortable with. Context: Foreign portfolio investors pulling money out of Indian stocks and bonds is one of the key drivers of rupee moves.