The Indian rupee weakened for three consecutive sessions last week, sliding from 87.07 per U.S. dollar on Aug. 20 to 87.53 on Friday, its lowest close this year. The slide followed comments by the U.S. Treasury Secretary that reinforced worries over trade tensions and came as Washington prepares to impose tariffs of up to 50 % on Indian goods in addition to existing 25 % duties. The currency opened modestly firmer at 87.39 on Monday after Federal Reserve Chair Jerome Powell signalled the central bank could cut rates as soon as September, a stance that drove Treasury yields lower and pushed the dollar index below 98. Traders, however, warned the reprieve may be short-lived, citing the looming tariff increase and the risk that the rupee could revisit or breach its record lows in the days ahead. Powell’s dovish tone also buoyed bullion, lifting spot gold to about US$3,370 an ounce before a firmer dollar pared gains to roughly US$3,350. Despite hedge funds trimming bullish positions, gold remains up more than 25 % this year, supported by expectations of lower U.S. borrowing costs and persistent geopolitical tensions.