<h1>Indian rupee drops 15 paise to 86.31 against dollar amid oil demand and foreign outflows</h1> The Indian currency weakened 15 paise to close at 86.31 against the US dollar due to persistent dollar demand from oil importers and foreign fund outflows. The currency opened at 86.27, reached an intra-day high of 86.19 and low of 86.36 before settling lower. After breaching the crucial 86 level, the decline intensified amid a strengthening dollar index. Market focus remains on India-US trade talks with the August 1 deadline for potential tariffs approaching. Failure or delays in discussions could further challenge the currency, while a successful deal might provide relief. The rupee remains the weakest among Asian currencies. Foreign institutional investors sold equities worth Rs 1,681.23 crore on a net basis, while domestic equity markets advanced with BSE Sensex rising 0.54 percent and Nifty gaining 0.49 percent.