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News Box

* USDINR closed 11 paise lower at 72.83 yesterday

* FBIL set the reference rate for USDINR at 73.0662 and Euro at 88.28

* Dollar index at 3 month high as Fed chair Jerome Powell instigate risk off

* China increase trials on digital currency of Yuan

* Australia service PMI at highest since 2018

Outlook USDINR

Rupee opened 27 paise higher at 72.99, from its previous close against the US dollar and it finally closed at 72.83, down 11 paise yesterday. USDINR had gained as far as the intraday high of 72.62 and fell to an intraday low of 72.99. The dollar index which compares the strength of the dollar against 6 major currencies increased 0.27% and closed at 91.19. Brent crude future fell 0.34% to trade at $63.85/barrel. USDINR near futures are at 72.9875 with the next support seen at 72.7517 and next resistance seen at 73.2842 ahead of market opening today.

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