Rupee drops past ₹87 as Trump tariffs rattle Asian currencies

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The rupee weakened past 87 per U.S. dollar for the archetypal clip connected Monday (February 3, 2025), arsenic Asian currencies slumped aft U.S. President Donald Trump imposed tariffs connected the country's largest trading partners, driving a surge successful the U.S. dollar.

The rupee dropped 0.5% to a debased of 87.07 successful aboriginal trade, with traders expecting the currency to look further losses passim the day.

Mr. Trump, successful 3 enforcement orders successful the weekend, imposed 25% tariffs connected Mexican and astir Canadian imports, and 10% connected goods from China, starting connected Tuesday.

The dollar scale was up 0.3% astatine 109.8, portion Asian currencies weakened, with the offshore Chinese yuan - a intimately watched counterpart of the rupee - down 0.5% astatine 7.35 per U.S. dollar.

Published - February 03, 2025 09:54 americium IST

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