The rupee nosedived 113 paise or 1.62 per cent against the US dollar and breached the 70-mark on Monday, news agency Press Trust of India (PTI) reported. The fall in rupee's value marked the biggest single-day drop in the last six years. The depreciation came on the back of escalation of trade tensions between the United States and China, a sharp devaluation in yuan and uncertainty over the Kashmir issue. This was also the third straight session of fall for the rupee, during which it has lost 194 paise. It had closed at 69.60 against the American currency on Friday.