Rupee bogged down by weaker Chinese yuan as US tariffs kick in

The Indian rupee declined to a three-week low on Wednesday, tracking the weakness in the Chinese yuan as sweeping U.S. tariffs came into effect, including a 104% levy on China, and fuelled worries of a slowdown in global growth.

The rupee closed at 86.6875 per U.S. dollar, down nearly 0.5% on the day. It hit a three-week low of 86.71 earlier in the session.