USDINR flirting with the psychological 90 mark Earlier this week, USDINR breached the psychological 90 mark, reflecting depreciation pressure since September - emanating from the recent deterioration in external balance. Heavy RBI interventions (~US$50bn via spot/forwards/NDFs) had delayed this move thus far, but the break above 90 suggests a shift in policy tolerance. We now forecast year- end USD/INR at 92 for FY26 and 94 for FY27. BoP flows stress - driven by tariffs uncertainty, gold imports and weak do ...