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Speaking to CNBC-TV18, Ashutosh Raina, head- forex trading, HDFC Bank says the rupee is likely to breach the 63 level and may appreciate to 62.50 against the greenback
Nizam Idris, head of EM FX Strategy, Macquarie says the RBI's move sends a message to the market on its strong intention to curb the rupee weakness.
The rupee could depreciate to levels of 62-65 in the next couple of months, but that should not have a very significant impact on the Indian equity market, says Gopi Suvanam, founder, InvestWorks. Investors can start building positions in defensive and dollar-related stocks like technology or pharma, he says, and the bond market.