The rupee fell to a new record low of 79.38 to the US dollar on Tuesday, a day after India logged a record trade deficit at $25.6 billion in June, up from $24.3 billion in May. The unit lost more than half a percentage point to close at 79.37 to the dollar. Economists estimate the current account deficit, or excess of imports over exports, will touch 3.1% of India's GDP, up from 1.2% last year.
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