The rupee closed 37 paise lower to Rs 59.41/USD ahead of the crucial first quarter policy review meet of the Reserve Bank of India (RBI) on Tuesday.
The rupee will not fall significantly from current levels as a bunch of inflows are expected to support it, said Arvind Narayanan of DBS Bank.
Dipan Mehta, member, BSE and NSE asks investors, in an interview to CNBC-TV18, not to be positive on Just Dial yet and suggests bets on midcap IT stocks.
On the levels he sees for the currency, Agam Gupta of Standard Chartered Bank says it will not see 55.75-56/USD in the next three-six months.
A fall in overseas gold market failed to lift physical demand in India, the world's top consumer, as the depreciating rupee kept prices steady in the local market.