Rupee falls as tariff news flow hurts regional peers; forward premiums drop

The Indian rupee weakened on Tuesday, as dampened global risk appetite and renewed concerns about trade tariffs under U.S. President Donald Trump kept Asian currencies on the defensive, while a broader risk-off sentiment dominated global markets. Asian currencies were broadly weaker as well, although many regional markets shut for local holidays. Trump said on Monday he plans to impose tariffs on imported computer chips, pharmaceuticals and steel in an effort to return production of such essential goods to the U.S.