MUMBAI: (Jul 22) The rupee pared initial gains and settled for the day down 5 paise at 86.36 (provisional) against the US dollar on Tuesday, amid uncertainty over the US-India trade deal ahead of the August 1 deadline.
Forex traders said, all eyes are now on the outcome of India-US trade talks, especially as the August 1 deadline for potential tariffs on Indian exports draws near.
The weakness in the American currency and softening of crude oil prices supported the rupee at lower levels, while foreign fund outflows and a negative trend in domestic equities weighed on the local unit and restricted the upside. PTI
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