The Indian currency depreciated to hit a new record low of 87.29 against the dollar in Monday morning trade on the onset of tariffs on China, Canada, and Mexico imposed by US President Donald Trump.
Mounting pressure from foreign fund outflows and the strengthening dollar in the overseas markets, along with demand for the American currency from oil importers, added to the woes of the rupee.
[This is a developing story and is being updated]
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