The Indian rupee continued its downward slide for the fourth consecutive day Thursday to touch an all-time low of 56.57 against the US dollar. The rupee opened at 56.40 and dropped 42 paise in the afternoon session to surpass its previous record low of 56.52 set May 31. The increasing demand for the dollar from importers, high capital outflows from equity markets and the renewed global risk aversion contributed to the fall of the rupee. The U.S. Federal Reserve's decision to continue the bond purchase program by less than the estimates of the investors, the weak factory data from China and the decline in Germany's private sector also contributed to the rupee's depreciation. The Reserve Bank of India interfered in the forex market mildly after the rupee touched its record low, Reuters reported quoting the traders.

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