Rupee dips to 88.21 as H-1B visa hike impacts IT sector; equity markets slipThe rupee slipped to 88.21 against the US dollar amid US H-1B visa fee hikes impacting IT stocks. Domestic equities opened lower, while forex reserves rose, Brent crude climbed, and PM Modi highlighted GST reforms to boost India's growth. On Friday, the rupee appreciated 4 paise to close at 88.16 against the US dollar. On the H-1B visa fees hike, CR Forex Advisors MD Amit Pabari said, beyond the sectoral impact, India’s overall services exports could also take a hit if overseas deployments are curtailed, thereby affecting the country’s external balances. In the previous reporting week, the overall reserves had increased USD 4.038 billion to USD 698.268 billion.