There are two-third chance of the rupee touching 64/USD by March-end, 2016 and there is one-third chance of 67/USD, according to ratings and research firm CRISIL. ''Rising frequency of external turbulence keeps rupee under pressure; commodity prices decline continues to benefit imports despite the depreciation of the rupee; rate hike by the US Federal Reserve to be next big temblor,'' it said.

CRISIL said, ''Rupee has posted significant losses in the last few weeks bringing back memories of 2013, when it had depreciated 24% to 68/USD in a matter of four months. The rupee has dropped by as much as 3.7% in only a few days since the Yuan devaluation on August 11.'

''However, the current scenario is different than what we saw in 2013. While our external vulnerability has declined, the frequency of global shocks has increased,'' it said.