"That said, major central banks globally are still adopting the policy of low to negative interest rates and that would provide support to the domestic currency to some extent. However, they believe the rupee may recover in a week after clarity emerges on Brexit. "You will be saving 4 per cent in interest rate outflow, which means a $800 million savings. Rajan to his credit has institutionalised the working at RBI and prepared India to tackle the worst, including the looming Brexit and FCNR redemption. On the downside, in case 67.70 is pierced through, we may even see it hitting record lows," she said.

Source: Economic Times June 19, 2016 11:26 UTC