The Indian rupee fell to an over five-month low on Thursday, hurt by U.S. President Donald Trump's threat of a 25% tariff on the Asian country's exports, and the central bank likely stepped in to arrest its fall towards a record low,

According to the Bloomberg data, Indian rupee has depreciated 0.83 percent in last two weeks. On a year-to-date basis, the local currency is under pressure and second worst performing among Asian peers.

Currency traders are bracing for volatility, with the rupee expected to trade in the 87.25–88 range through the day.