Less than two weeks after breaching the 90-mark, the rupee slipped to close at a new lifetime low of 91.01 on Tuesday against the US dollar.

The Indian currency continued its slide amidst sustained foreign fund outflows, absence of a trade deal with the US and persistent dollar buying.

The rupee closed Tuesday 23 paise down, recovering marginally in late trade after slumping to an intra-day record low of 91.14 against the greenback. The decline of 36 paise from the previous close came despite a sharp fall in global crude oil prices.

According to forex traders, a weaker dollar and a sharp decline in global crude oil prices could not prevent the rupee’s slide.

The rupee has slumped from 90-per-dollar level to 91 over the last 10 trading sessions. In the past five sessions alone, it has depreciated by 1% against the dollar.

Analysts said the rupee could cross the 92 per dollar-mark this month if no breakthrough is reached in India-US trade and FPI (foreign portfolio investment) outflows continue. The US bond yields are also rising.

On Monday, the rupee settled at 90.78 against the US dollar, registering a loss of 29 paise from its previous close.

As per exchange data, foreign institutional investors sold equities worth Rs 1,468.32 crore on Monday.

The dollar index was trading 0.08% lower at 98.23.

Brent crude, the global oil benchmark, was trading 1.78% lower at USD 59.48 per barrel in futures trade.