The Indian rupee weakened past 87 to the U.S. dollar for the first time ever on Monday in the wake of a slump in Asian currencies and equities after U.S. President Donald Trump's tariff threats became a reality.

Mumbai: US President Donald Trump 's decision to impose 25 percent import tariffs on Canada, Mexico and China and the countries' retaliatory measures could lead to a possible trade war on a global level.

The dollar index was up 0.3% at 109.8, while Asian currencies weakened, with the offshore Chinese yuan down 0.5% at 7.35 per US dollar.

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,