The relentless slide in India\u2019s rupee has analysts rushing to rework their forecasts. With the currency setting one record low after another, lenders including DBS Bank Ltd. are now predicting it will slide to as weak as 75 per dollar. India\u2019s trade deficit for August is likely to remain at $17 billion to $18 billion, while the Federal Reserve is set to raise rates again this month, both of which will weigh on the rupee, Philip Wee, a senior currency strategist at DBS, wrote in a note. UBS Securities India Pvt. cut its year-end forecast to 73 from 66, while Scotiabank sees the rupee nearing 74 in the run-up to the Fed meeting. The sustained weakness in the currency has caused a mini-revival of foreign inflows into Indian bonds to splutter. Global funds sold $686.4 million of rupee-denominated debt in the week ended Sept. 7, the most in four months. That\u2019s also more than the combined $460 million of inflows in July and August. Also read:\u00a0Rupee recovers mildly, opens 15 paise higher at 72.30 per US dollar \u201cRight now, we can\u2019t say that we have reached the end, and volatility and tension around flows in EM are likely to remain elevated,\u201d said Manu George, director of fixed income in Singapore at Schroder Investment Management Ltd., which oversees $582 billion. The selloff in the rupee and negative sentiment toward developing markets \u201ccontinues to weaken investor interest,\u201d he said. The rupee slid to a new record of 72.6738 on Monday, prompting authorities to ask the central bank to intervene more aggressively to stem the slide, people familiar with the matter said. The government may take steps including introducing a deposit plan for overseas Indians, a finance ministry official said. A stocktake of the RBI\u2019s policy toolkit suggests it has limited options to meaningfully influence the rupee\u2019s near-term direction, meaning the currency will remain vulnerable to swings in global sentiment, Barclays said in a research note. EM Risks India\u2019s trade deficit widened to $18.02 billion in July from $11.45 billion a year earlier, the Commerce Ministry said last month. The rupee will end this year at 70 per dollar, according to the median estimate of analysts in a Bloomberg survey. The currency rose 0.1 percent to 72.3975 in early Tuesday trading. \u201cIn the near-term, if external EM risks do not ease or trade protectionism rises further, the rupee could weaken well past our FY19 year-end forecast,\u201d UBS analysts Tanvee Gupta Jain and Rohit Arora wrote in a recent note.