Most of the market participants believe that rupee is less likely to breach 88 a dollar level in February, as Reserve Bank of India may slow down the pace of depreciation.

The dollar firmed on Monday as fresh threats of tariffs from U.S. President Donald Trump dented risk sentiment, casting a shadow over commodities markets and putting pressure on the euro and the Australian and Canadian dollars.

President Trump's newly announced tariffs are sending shockwaves through global markets! The Indian Rupee plunged to record lows in trade, just shy of the 88 per Dollar mark, stock markets are in a four-day freefall,