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RBI preventing rupee from strengthening: Jamal Mecklai

The rupee hit a multi-month low today, sliding to 62.25 against the dollar as Asian currencies tumble across the board on a region-wide fall in stock markets.

A relative outperformer in the past few days, the rupee hit a multi-month low today, sliding to 62.25 against the dollar as Asian currencies tumble across the board on a region-wide fall in stock markets. Is the resilience finally breaking?

Jamal Mecklai of Mecklai Financial believes the rupee is overvalued currently and that the volatility is rising globally. He feels the RBI is preventing the rupee from strengthening.

Jayesh Mehta of Bank of America, expects flows into India to continue as growth improves. He feels the rupee is unlikely to depreciate much from the current levels.

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