Currencies around the globe crashed on Friday and the effect was seen in equities across the globe today. On Friday, the South African Rand plunged to a 5-year low, the Ukraine's Hryvnia sank to a 4-year low, Turkish Lira hit a lifetime low and Argentina's Peso sunk 20 per cent for the week.
Dealers say that the rupee might continue to exhibit resilience on RBI intervention to prevent volatility in the currency market.
Forex markets are also expected to remain volatile ahead of the RBI's policy meet on Tuesday and would take cues from the same.
Also, eagerly watched would be the Federal Reserve's Open Market Committee Meet for future policy action. Shoud the Fed decide to further taper its bond buying programme, the rupee could fall further. Read more on QE3 here