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 fall of the rupee to a new all-time low was in line with other global currencies, which weakened against the greenback after Trump imposed tariffs on Canada, Mexico and China, and threatened to increase levies on the European Union.

MUMBAI: After hitting a record low of 87.29 in opening trade, rupee closed on Monday at 87.185 to dollar after US president Donald Trump slapped punitive tariff

The Indian rupee plummeted to a new all-time low of 87.11 against the US dollar on Monday, driven by concerns over a potential trade war after the Trump administration imposed tariffs on Canada, Mexico,

The Indian rupee breached the 87 per dollar mark for the first time today, a steep fall from its previous close of 86.61/$ on January 31. The depreciation can largely be blamed on rising global trade tensions, sparked by new tariffs imposed by US President Donald Trump on imports from Mexico, Canada, and China.