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 fell 0.5% to a record low of 87.07 per dollar in early trade, down from its previous close of 86.61. The dollar index rose 0.3% to 109.8, while Asian currencies weakened after Trump’s tariff announcement. The offshore Chinese yuan, which the Indian traders track, declined 0.5% to 7.35 per dollar.

As US President Donald Trump has unleashed a tariff war on the world, the Indian Rupee has fallen to an all-time low of over Rs 87

The Indian rupee weakened past 87 per U.S. dollar for the first time on Monday, as Asian currencies slumped after U.S. President Donald Trump imposed tariffs on the country's largest trading partners,

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

The Indian rupee has hit an all-time low, trading at 86.65 per dollar today. The fall exceeds its previous lowest value of 86.6475, recorded earlier this month. The depreciation follows the possible US trade tariffs announced by President Donald Trump, causing most Asian currencies to falter.

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.