The Indian rupee weakened past 87 to the U.S. dollar for the first time ever on Monday in the wake of a slump in Asian currencies and equities after U.S. President Donald Trump's tariff threats became a reality.

The rupee depreciated 67 paise to hit record low of 87.29 against the US dollar in early trade on Monday after Trump Tariffs on Canada, Mexico and China triggered fears of a broad trade war.

The rupee weakened past 87 per U.S. dollar for the first time on Monday (February 3, 2025), as Asian currencies slumped after U.S. President Donald Trump imposed tariffs on the country's largest trading partners, driving a surge in the U.S. dollar.

The Indian rupee is poised to open at an all-time low against the dollar on Monday, tracking a slump in Asian currencies and risk aversion on worries over a trade war between the U.S. and its trading partners.

This comes amid investor worries over potential trade war between US and its trading partners following tariff threats.

The dollar index was up 0.3% at 109.8, while Asian currencies weakened, with the offshore Chinese yuan down 0.5% at 7.35 per US dollar.