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,

The Indian rupee fell to an over five-month low on Thursday, hurt by U.S. President Donald Trump's threat of a 25% tariff on the Asian country's exports, and the central bank likely stepped in to arrest its fall towards a record low,

There’s a lot happening this morning. Trump has announced a 25% tariff on Indian goods, plus a penalty over India’s reliance on Russian military equipment and energy. That 25% tariff puts India at a disadvantage compared to others -- Vietnam got a 20% rate, Indonesia 19%, and Japan at 15%.