Market sources indicated that the Reserve Bank of India (RBI) intervened through state-run banks to curb the rupee’s losses.

Rupee hits record low against U.S. dollar on anticipation of RBI rate cut, weak economic data, and foreign fund outflows.

The Indian Rupee has touched a new low, trading at 87.50 against the US Dollar today. The fall was witnessed against the backdrop of weak Asian equities. The INR started the day at a slightly lower rate of 87.1263 against its previous close at 87.0762, marking an initial fall of 5p in value against the USD.

The Indian rupee took a massive hit on Monday and slipped to a new record low against the American dollar. The domestic unit depreciated 67 paise to reach an all-time low of 87.29 against the US dollar in early trade on Monday.

Mumbai: US President Donald Trump 's decision to impose 25 percent import tariffs on Canada, Mexico and China and the countries' retaliatory measures could lead to a possible trade war on a global level.