Bharat Iyer of JPMorgan said, "The rupee has broken down below key support level of 64.20/dollar to a 2-year low. Near-term the trend has been driven by the move in the Chinese currency. But that said, even prior to the events of the last week, we had a target for USD-INR of 66/dollar by Q1 CY2016 and 66.50/dollar by Q2 CY2106. We remain overweight on IT and healthcare."
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