Mumbai, Sept. 6 -- The rupee has underperformed all its Asian peers except China's renminbi in August. The rupee depreciated by 3.65% against the dollar during the month, its steepest monthly decline in six years. The renminbi slipped 3.70% against the dollar. However, it is widely believed that renminbi's fall was mainly because of China's reported devaluation of its currency beyond the psychological mark of 7 yuan per dollar for the first time in more than a decade amid escalating tensions with the US over trade tariffs. On 31 August, the rupee hit 71.41 per dollar. The currency had hit its all-time low at 74.48 on 11 October 2018. The rupee rose by as much as 43 paise against the US dollar on Wednesday, 4 September, after dropping sharpl...