Rupee hits new all-time low, slips to 70.40 against dollar
The Indian rupee on Thursday touched a fresh all-time low of 70.40 against the US dollar after the country's trade deficit widened to a more than 5-year high in July. The local currency closed below the 70-mark for the first time after it settled at 70.16. The rupee has fallen about 9% against the dollar so far this year.