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Be Cautious With Rupee At Sub 60/$: Ajay Marwaha

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March 26: Ajay Marwaha of HDFC Bank says the rupee rally is pretty sustainable. The expectations only take into account euphoria but it’s important to consider the granularity of the FII flows, he says, advising players to participate in the rally but be cautious at sub-60 levels. In the short term, we don’t expect the rupee to strengthen above 58.50 or depreciate beyond 61.50 levels, he says.