Ongoing depreciation in the value of rupee will likely put more pressure on India but it is no trigger for rating action, global rating agency Fitch said.

The Indian currency has slipped more than 15 per cent against the Greenback so far this year, and the government's various measures have thus far failed to arrest the free-fall.

After falling to 64.54 per US dollar in the intra-day trade on Wednesday this week, the partly-convertible Indian currency slipped to its all-time low of more than 65 per US dollar on Thursday.

But Fitch downplayed the crisis and said, "These pressures have exceeded those of other emerging Asian economies, but Fitch Ratings does not view these developments as a trigger for rating action at this point."

Earlier, Fitch also said that it would maintain a `Stable outlook' at BBB for India's sovereign credit rating as the country has large foreign exchange (forex) reserves plus the government is moving ahed with its structural reform measures.

India currently has forex reserves of nearly $279 billion, which can cover imports for more than 5 months.