According to the Bloomberg data, Indian rupee has depreciated 0.83 percent in last two weeks. On a year-to-date basis, the local currency is under pressure and second worst performing among Asian peers.

India’s financial markets opened deep in the red on July 31 as the rupee slumped to a five-month low following U.S. President Trump’s shock 25% tariff decision on Indian imports.

Currency traders are bracing for volatility, with the rupee expected to trade in the 87.25–88 range through the day.