Currency watch: Rupee slips to 85.80 vs dollar on tariff jitters; equity selloff, weak RBI data add pressure

The rupee weakened to Rs 85.80 against the US dollar due to struggling domestic equities and global trade tensions fueled by Trump’s tariffs on Canadian goods. A strengthening dollar index further pressured the rupee, while forex reserves dipped by $3.049 billion. India continues trade talks with the US, aiming for a phase-one agreement by fall, focusing on agriculture and automobiles.