Asia FX slump on trade war fears puts rupee on verge of 87/USD

The Indian rupee is poised to open at an all-time low against the dollar on Monday, tracking a slump in Asian currencies and risk aversion on worries over a trade war between the US and its trading partners. On the interbank order matching system, the rupee was quoting at 86.92-86.94 to the US dollar, down from 86.6050 on Friday and past the 86.6475 lifetime low hit in mid January.