The Indian rupee posted its sharpest single-day drop in two weeks on Monday. The rupee INR closed at 87.33 against the U.S. dollar, down 0.5%, its steepest decline since February 25. Other Asian currencies were mostly lower between 0.1% and 0.3%, and the dollar index was a tad higher at 103.7 after hitting a four-month low last week. rupee is the worst-performing Asian currency this year amid persistent portfolio outflows alongside negative global factors. The United States plans to impose tariffs on aluminium and steel imports later this week, and reciprocal tariffs in early April. The Japanese yen and Swiss franc, like the Japanese yen, gained as investors continued to fret about a slowing U.K. economy and the prospects of a global trade war. The 1-year implied yield rose 3 basis points to 2.14% as traders awaited U.s. and Indian inflation data on Wednesday to gauge the future path of policy rates in the two countries.