The rupee is down over 14% against the American currency so far this year The rupee plunged further against the US dollar, to close 46 paise lower at a record 72.97 on Tuesday.
That marked a fresh all-time closing low registered by the rupee against the greenback.
Extended weakness in the rupee came on the back of rising crude oil prices and concerns on the intensifying US-China trade war front.
The government had the previous day reiterated that global phenomena occurring owing to squeeze on oil production and the US-China trade war led to rupee depreciation.
Analysts say that the measures announced by the government last week to support the rupee were particularly underwhelming for market participants.