<h1>US-India trade talks and tariff measures shaping rupee volatility and central bank FX intervention.</h1> Trade negotiations and tariff actions are driving currency and market volatility: US India talks may support the rupee if progress is made, while prior US tariffs have hurt exports and delayed negotiations. The Reserve Bank of India has stepped up interventions in the offshore non deliverable forward market to cushion exchange rate swings amid uneven capital flows and foreign portfolio outflows.