Soaring strength of Indian Rupee against the US dollar may impact the country's software services exporters' operating profit margins in the current quarter.

Rupee, which was at 54.8 against the US dollar at the started of current quarter, gained strength reaching 52.9 a dollar on Monday.

The recent centre government's intervention on lending rates and the new-found policy momentum are the main reasons behind the increasing strength of the Indian currency.

The currency is expected to rally further and put more impact on the operating profit margins of India's 3.7 lakh crore information technology export sector. As per a recent estimate, strengthened rupee can drag India's IT firms' operating profit margins down by 1 per cent.

Referring to 2012 when the Indian currency had hit a record low of 57.33 against the US dollar, India Ratings' senior director Sreenivasa Prasanna said that rupee was expected to depreciate from the current level.

Speaking on the topic, Prasanna said, "Last year's rupee depreciation was a boon for IT firms, but this year, we don't see that cushion."

Strengthened rupee is expected to hit India's top four IT services firms by at least 100 crore in the current quarter.