The Indian rupee declined by 17 paise to 85.97 against the US dollar in early trade, attributed to uncertainties over US trade tariffs.
Forex experts mentioned that India is currently negotiating with the US regarding potential tariffs, with the rupee's range projected to be between 85.50 to 86.00 during the day.
The dollar index, indicating the dollar's strength against other currencies, increased to 97.93, while Brent crude fell to $70.02 per barrel in futures trade.
On the domestic front, the Sensex dropped 295.37 points to 82,205.10, the Nifty was down 71.4 points to 25,078.45, and FIIs sold equities worth ₹5,104.22 crore on Friday.