The Indian rupee weakened past 87 per U.S. dollar for the first time on Monday, as Asian currencies slumped after U.S. President Donald Trump imposed tariffs on the country's largest trading partners,

Trump imposed a 10% duty on Chinese exports to the U.S, and 25% tariffs on Canada and Mexico, two of its top trading partners.

The Indian rupee fell beyond 87 against the U.S. dollar for the first time on Monday, following a decline in Asian currencies and stock markets after U.S. President Donald Trump’s tariff threats materialized.

The German and French stock markets were down about 2%, and London's FTSE 100 dropped more 1%, according to the British Broadcasting Corporation. However, the U.S. dollar strengthened on the currency markets as the Canadian dollar plunged to its lowest level since 2003, the BBC also reports.

Prospects for Asian equities remain positive due to China’s stimulus measures and strong Asean trade links, Hang Seng Bank official says.

Asia shares mostly fell in Monday trading as worries grow about President Donald Trump imposing tariffs on key U.S. trading partners. Japan’s benchmark Nikkei 225 lost 2.4% in