"The Indian rupee slumped 16 paise against the US dollar to trade at a life-time low of 71.37 in early trade on Tuesday. Jahangir Aziz, head of EM Asia Economic Research at JP Morgan, spoke to CNBC-TV18 about the rupee slide. “There are internal dynamics in India and what is happening on external front. If you look at what was happening in the external front from April to sometime around of July, there was dollar tightening, global financial conditions tightening and emerging markets including India all reacted to that by letting their currencies depreciate quite a bit, do some sort of FX intervention but hardly any interest rate hikes,"" said Aziz. “Emerging market countries and particularly emerging market countries with current account deficits now are pretty much behind the curve as far as where the interest rate should be,” he added." CNBC-TV18 is India's No.1 Business medium and the undisputed leader in business news. The channel's benchmark coverage extends from corporate news, financial markets coverage, expert perspective on investing and management to industry verticals and beyond. CNBC-TV18 has been constantly innovating with new genres of programming that helps make business more relevant to different constituencies across India. India's most able business audience consumes CNBC-TV18 for their information & investing needs. This audience is highly diversified at one level comprising of key groups such as business leaders, professionals, retail investors, brokers and traders, intermediaries, self-employed professionals, High Net Worth individuals, students and even homemakers but shares a distinct commonality in terms of their spirit of enterprise. Subscribe to our Channel: https://goo.gl/hKwgtm Like us on Facebook: https://www.facebook.com/cnbctv18india/ Follow us on Twitter: https://twitter.com/CNBCTV18News Website: http://www.moneycontrol.com/cnbctv18/