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Breaking News: The Rupees depreciation continued on Wednesday with the Indian currency touching a fresh record low. According to the news agency PTI report the rupee fell 9 paise to a record low of 90.05 against the US dollar in early trade. The rupee has faced downward pressure with the dollar–rupee exchange rate climbing over 1% in the past five trading sessions. Over the last month it has surged more than 1.5% extending its upward trend for the sixth consecutive month. According to traders the depreciation of the rupee has been caused by both policy intentions and market forces as reported by NDTV. As per many market participants the government and Reserve Bank of India (RBI) seem to be inclined towards supporting exporters hence maintaining a strong demand for dollars for the past few days. On Tuesday several banks owned by the government were consistently purchasing dollars at high prices thus reinforcing the intention of support for exporting businesses. A deal was made for 90.0050 after market hours on a trading platform NDTV reported. The rupee is facing additional pressure due to stalled India–US trade talks and significant foreign portfolio investor (FPI) outflows even as the dollar index struggles to stay above 100. If the Reserve Bank of India (RBI) begins to lose support around the 90 level analysts predict that the exchange rate will probably approach a level of 91 within this current cycle. This is breaking news. Further details will be updated.