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* Indian Rupee ended at 73.28 yesterday, down 21 paise against its previous close of 73.07.

* FBIL set the reference rate for USDINR at 73.0243 and Euro at 88.6447.

* US dollar gave up its gains as the focus changed towards the Janet Yellen’s hearing before the Senate Finance Committee.

* Euro edged higher while UK’s pound traded higher against US dollar.

* ECB will meet for its interest rate decision meeting on Thursday.

* BoJ is set to begin its monetary policy meeting on Wednesday.

* Data released showed that China’s GDP advance 6.5% in Q4 against 4.9% QoQ.

* China to release its loan prime rate tomorrow.

* PBOC set the yuan mid-point against the dollar at 6.4882 versus the last close of 6.4921.

Falling domestic equity market and strengthening American currency dampened the currency outlook that fell to end the session by 21 paise. FIIs inflows also did not supported the Rupee. Local unit yesterday opened at 73.21 a dollar and made an intraday high and low of 73.18 and 73.30 before closing the session at 73.28 against its previous close of 73.07. The current closing was the lowest closing level since Jan 11. On Friday, Rupee was down by 3 paise. FIIs were buyers in the capital market segment on 18 Jan 2021; bought shares worth Rs 650.6cr as per exchange’s provisional figures. DIIs, on the other end were sellers to the tune of Rs 42.51cr for the same period. Oil prices rose marginally but demand concerns remained as the fresh cases of recent pandemic rose in some countries. This week, central banks’ policy meeting to be in focus with BoJ and ECB being in the list. For USDINR, 73.45 and 73.61 may act as crucial levels in the upside while 73.07 and 72.85 will act as support levels.

OUTLOOK - USDINR

Falling domestic equity market and strengthening American currency dampened the currency outlook that fell to end the session by 21 paise. FIIs inflows also did not supported the Rupee. Local unit yesterday opened at 73.21 a dollar and made an intraday high and low of 73.18 and 73.30 before closing the session at 73.28 against its previous close of 73.07. The current closing was the lowest closing level since Jan 11. On Friday, Rupee was down by 3 paise. FIIs were buyers in the capital market segment on 18 Jan 2021; bought shares worth Rs 650.6cr as per exchange’s provisional figures. DIIs, on the other end were sellers to the tune of Rs 42.51cr for the same period. Oil prices rose marginally but demand concerns remained as the fresh cases of recent pandemic rose in some countries. This week, central banks’ policy meeting to be in focus with BoJ and ECB being in the list. For USDINR, 73.45 and 73.61 may act as crucial levels in the upside while 73.07 and 72.85 will act as support levels.

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