The Indian rupee extended slide to settle 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. 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. Indian shares also ended a choppy session slightly lower on Tuesday due to prevailing uncertainty regarding an interim trade deal between the U.S. and India. The benchmark S&P/BSE Sensex swung between gains and losses before ending down 13.53 points at 82,186.81. The broader NSE Nifty index slipped 29.80 points, or 0.12 percent, to 25,060.90. Meanwhile, 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.

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