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<h1>Draft US notice proposing 25% export tariff sparks currency slide, breaching technical levels and fueling importers' dollar demand</h1> A draft US notice to impose an additional 25% tariff on domestic exports, effective Aug. 27, prompted immediate market reaction: the local currency weakened by 22 paise to 87.78 against the dollar in early trade, breaching key technical levels and triggering heightened dollar demand from importers. Traders flagged potential central bank intervention at the 87.80 level. Equity markets fell and foreign institutional investors were net sellers. Market sentiment was further affected by stalled international peace talks, oil-price movements and concerns over central bank independence following a high-level dismissal in the US, all reinforcing downside pressure on the currency.