Rupee hits a new low of 72.73/$; analysts see more pain ahead

The rupee on Tuesday hit a new lifetime low of 72.73 in the intraday trade against the US dollar. However, it recovered later and was trading at 72.60 at 03:52 pm. 

The domestic currency opened at 72.30, up 15 paise against yesterday's close of 72.45. The Indian unit on Monday plunged 71 paise or 0.98 per cent on rising crude prices and a widening current account deficit (CAD). 

In other economic data, India’s current account deficit (CAD) widened to 2.4 per cent of gross domestic product (GDP) in April-June period on the back of rising crude oil prices, from 1.9