<h1>Currency depreciation: rupee weakens amid foreign fund outflows and trade negotiations, raising exporter tariff and market risks.</h1> Rupee depreciation in early trade was driven by foreign fund outflows and higher crude oil prices, alongside a stronger dollar following an external trade development; domestic equity gains mitigated, but did not reverse, the ongoing weakening trend. The movement heightens exporter exposure to potential tariff risks tied to India-US trade negotiations, while foreign institutional sell-offs and crude price sensitivity increase exchange rate volatility.