The rupee today fell by a whopping 71 paise to hit a new life-time low of 57 rupees 77 paise in the late morning trade. Th fall comes after the persistent dollar demand from importers and and banks amid the US currency gaining overseas. The rupee which resumed lower at 57 rupees 18 paise against the dollar as against the last weekend's level of 57 rupees 6 paise per dollar, dropped further to an all-time low of 57 rupees 77 paise per dollar.This crosses its life-time closing low level of 57 rupees 32 paise touched in June-end last year. However, it recovered slightly to 57 rupees 60 paise per dollar at 1100hrs, showing a loss of 54 paise from its last weekend's level.