Rupee weakened by 7 paise to close at 85.77 against US dollar amidst global market concerns over tariffs imposed by Trump on Canadian goods.
Traders anticipate further rupee depreciation due to ongoing trade conflicts affecting global sentiment and uncertain trade deals like the US-India agreement.
Forex market saw rupee trade within a narrow range, while Brent crude price rose slightly to $68.87 per barrel in futures trade.
Indian authorities aim to finalize an interim trade agreement with the US before proceeding with a comprehensive bilateral deal, with negotiations ongoing in sectors like agriculture and automobiles.