<p class="title">The rupee slumped 43 paise against the dollar on Thursday to trade at a life-time low of 70.32 on strong demand for the US currency.</p>.<p class="bodytext">At the Interbank Foreign Exchange, the local currency opened at a record low of 70.25 a dollar, down from its previous close of 69.89, and weakened further to trade at a fresh low of 70.32, down by 43 paise.</p>.<p class="bodytext">Forex dealers said besides strong demand for the American currency from importers, capital outflows mainly weighed on the domestic currency.</p>.<p class="bodytext">A sharp surge in trade deficit too impacted the rupee. Trade deficit soared to a near five-year high of USD 18 billion, data released by the commerce ministry on Tuesday showed.</p>.<p class="bodytext">Furthermore, depreciation of the Turkish lira against the dollar after the US imposed tariffs on steel and aluminium imports also put pressure on the Indian rupee, they added.</p>.<p class="bodytext">The rupee had gained 4 paise, to close at 69.89 against, the dollar in the previous session on Tuesday.</p>.<p class="bodytext">Forex market was shut yesterday on account of Independence Day.</p>.<p class="bodytext">Meanwhile, the BSE Sensex fell by 207.03 points, or 0.54 per cent, to 37,644.97 points in early trade.</p>.<p class="bodytext">Foreign institutional investors (FIIs) sold shares worth a net of Rs 378.84 crore on Tuesday, as per provisional data.</p>
<p class="title">The rupee slumped 43 paise against the dollar on Thursday to trade at a life-time low of 70.32 on strong demand for the US currency.</p>.<p class="bodytext">At the Interbank Foreign Exchange, the local currency opened at a record low of 70.25 a dollar, down from its previous close of 69.89, and weakened further to trade at a fresh low of 70.32, down by 43 paise.</p>.<p class="bodytext">Forex dealers said besides strong demand for the American currency from importers, capital outflows mainly weighed on the domestic currency.</p>.<p class="bodytext">A sharp surge in trade deficit too impacted the rupee. Trade deficit soared to a near five-year high of USD 18 billion, data released by the commerce ministry on Tuesday showed.</p>.<p class="bodytext">Furthermore, depreciation of the Turkish lira against the dollar after the US imposed tariffs on steel and aluminium imports also put pressure on the Indian rupee, they added.</p>.<p class="bodytext">The rupee had gained 4 paise, to close at 69.89 against, the dollar in the previous session on Tuesday.</p>.<p class="bodytext">Forex market was shut yesterday on account of Independence Day.</p>.<p class="bodytext">Meanwhile, the BSE Sensex fell by 207.03 points, or 0.54 per cent, to 37,644.97 points in early trade.</p>.<p class="bodytext">Foreign institutional investors (FIIs) sold shares worth a net of Rs 378.84 crore on Tuesday, as per provisional data.</p>