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<h1>Trade tariff uncertainty drives currency volatility as India-US interim negotiations influence exchange-rate and market sentiment.</h1> The rupee's depreciation was driven mainly by tariff uncertainty from ongoing India-US interim trade negotiations and approaching deadlines, with higher crude oil prices and a firmer US dollar adding pressure. Equity market declines and foreign investor flows accompanied the currency move, and short-term USD-INR trading ranges were presented as contingent on the outcome and statements related to the trade talks.