The Indian rupee has continued to weaken and it is believed that the national currency is likely to breach its lowest level ever at 57.16 against the US dollar.

Param Sarma, forex expert and director and CEO of NSP Treasury Risk Management said, "The undertone for the rupee continues to remain bearish and we do not expect the central bank to intervene much to protect the rupee. It is therefore only a matter of time that we will see the previous record low."

Experts believe that the central bank, the Reserve Bank of India (RBI) is not likely to intervene in the matter until there is volatility in the market. The Indian rupee touched 57.07 against the dollar on Friday, which is its lowest in one year. The rupee is facing pressure due to high current account deficit, foreign fund outflows, and stronger dollar globally and domestic economic slowdown.

The rupee has fallen 1 per cent against the dollar in the previous week as dollar showed signs of strengthening against other currencies in the global markets on indications that the US economy might be recovering gradually during the financial year.