Indian rupee slips to new low

The Indian rupee slipped to a new low of 74.27 to a US dollar during the mid-afternoon session on Tuesday.

Around 1.25pm, the Indian rupee traded at 74.27 to a dollar -- the lowest ever against the greenback.

The Indian currency made a slight recovery at 1.35pm to stand at 74.26 to a USD.

It opened the day's trade at the Inter-Bank Foreign Exchange Market at 73.85 to a USD from its previous close of 74.07.