The rupee is down more than 6 per cent against US dollar since the start of this year.
The rupee today edged higher to 68.31 today against the US dollar, but is not very far from its all-time low of 68.87, recorded in November 2016.
On Wednesday, the rupee had closed at an 18-month low 68.42 against the US dollar amid capital outflows and concerns over macro-economic conditions.
A rising dollar and a surge in global crude prices have also weighed on the rupee.
The rupee is down over 6 per cent against the US dollar so far this year.
Forex advisory firm IFA Global says that the possibility of rupee heading towards 70 per dollar is increasing.
There is a still room for further depreciation from current levels, it adds.