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,

Reserve Bank of India’s efforts to prop up the currency come as India braces for new economic pressures, including a looming 25 per cent tariff on its exports to the United States

The Indian rupee's recent slide may help soften the blow from higher U.S. tariffs, economists said, with trade tensions between New Delhi and Washington intensifying under President Donald Trump.