This comes in the wake of Trump’s tariff terror, coupled with shares worth Rs 2,567 crore offloaded by foreign investors after the American president’s accusation that India is hands-in-gloves with Russia. The depreciation is also in part due to Oil Marketing Companies (OMCs) demanding dollars during the day.

The Indian rupee is likely to remain under pressure ahead of the central bank's interest rate decision on Wednesday, after nearing an all-time low following President Donald Trump's fresh threats of steep tariffs on Indian goods.

The Indian rupee (USD:INR) weakened to an all-time low against the U.S. dollar (DXY) on Tuesday as President Donald Trump threatened to hike tariffs on India for buying oil from Russia. Trump announced last week that he intends to impose a 25% tariff on Indian goods,