India’s rupee slipped to yet another fresh low on Wednesday, pressured by capital outflows and continued uncertainty about a trade deal with the U.S.

The Indian rupee fell to a record low on Tuesday, extending losses sparked by the absence of a trade deal between India and the United States, which has dented trade and portfolio inflows.

The currency dropped to a new record low of 90.13 against the US dollar, breaking its previous all-time low of 89.9475 touched just a day earlier. The decline in the rupee came amid weak trade and portfolio flows,

Only a India-US trade deal is likely to provide near-term respite to the rupee-dollar exchange rate, Barclays says amid warnings of a further slide to 90.50.

The rupee (INR) remained close to its all-time low, declining by 22 paise to 89.75 against the US dollar during early trading on Tuesday, as the absence of a US-India trade agreement overshadowed the effect of impressive economic growth.

The rupee fell to a new record low against US dollar on Tuesday. It slumped 39 paise to 89.95 against the US currency. The Indian currency tumbled 14 paise to 89.70 against the greenback, marked the lowest opening level.

The Indian rupee weakened past the key psychological level of 90 to the dollar on Wednesday, extending a rough patch as anaemic trade and sustained portfolio flows weighed in the absence of positive news on a trade deal with Washington.

The Indian rupee weakened past the psychologically crucial 90 per U.S. dollar mark on Wednesday, extending its rough patch as weakness in trade and portfolio flows alongside worries over a missing trade deal with Washington kept the currency under pressure.