** Indian rupee has gained substantially since hitting a two-month low of 63.0025 on March 13.
** That has forced heavy intervention from RBI, capping what could have been broader gains - traders.
** Expectation Fed will remain cautious on rate hikes benefiting rupee.
** Rupee had gained for seven straight sessions to Tuesday on large dollar inflows into equity and debt markets.
** It had gained around 1 percent vs USD during this phase.
** Unit is broadly seen holding in a 61.50 to 63.00 range in near term.
** "There are huge flows but RBI is there like a rock. They can't depreciate the currency, all they can do is stop it from appreciating by buying dollars to support exports," says head of foreign exchange trading at large private bank.