The Indian rupee weakened previous 87 per US greenback for the primary time on Monday, as Asian currencies slumped after US President Donald Trump imposed tariffs on the nation’s largest buying and selling companions, driving a surge within the US greenback.
The rupee dropped 0.5 per cent to a low of 87.07 in early commerce, with merchants anticipating the forex to face additional losses all through the day.
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Trump, in three government orders within the weekend, imposed 25 per cent tariffs on Mexican and most Canadian imports, and 10 per cent on items from China, beginning on Tuesday.
The greenback index was up 0.3 per cent at 109.8, whereas Asian currencies weakened, with the offshore Chinese language yuan – a carefully watched counterpart of the rupee – down 0.5 per cent at 7.35 per US greenback.
