The debt from dollar-denominated bonds that will become due by Indian businesses in the coming year, has reached a record $11.4 billion.

The pressure on the country’s borrowers is high because of the ever falling value of rupee, which is at its record lows in recent days and the cost of borrowing from the US is high for the country. The debt due next year is more than double compared with a five-year average of $5.6 billion.

According to data from Bloomberg, ICICI Bank and Bank of Baroda are among the companies with the most amount of debt in the market. Yields on Indian company dollar-denominated bonds have been increasing from five quarters and has now reached 6.85 percent, which is among the highest in Asia.

The Indian rupee has fallen 15.2 percent against the dollar this year, making it more expensive for Indian firms to pay back loans in dollar terms because they earn incomes in rupees.

Analyst say that the duel effect of expanding cost of borrowing and a falling rupee has made the situation more difficult for the businesses in the country. Indian companies sold $9.2 billion of non-rupee bonds this year, compared with $8.7 billion last year, according to the data release by Bloomberg.