The Rupee fell to a record low of 87.28 against the US Dollar on Monday, as global currency markets reacted to fresh trade tensions. The decline came after US President Donald Trump imposed new tariffs on key trading partners, strengthening the US dollar and putting pressure on Asian currencies. The Rupee dropped 0.5% in early trade, and traders expect further weakness throughout the day. The sharp fall in the Rupee was mainly triggered by three executive orders signed by Trump over the weekend. These orders imposed 25% tariffs on Mexican and Canadian imports and 10% tariffs on goods from China, starting Tuesday. The new trade restrictions have boosted the value of the US Dollar, making it stronger against most global currencies. The US Dollar’s strength has affected other Asian currencies as well. The Dollar Index (which measures the US Dollar against six major currencies) rose 0.3% to 109.8.
