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Rupee plunged yesterday by over 30 paise tracking strong US Dollar in the overseas market and muted trend in domestic equities.

SEBI tweaks client level position limits for trading in cross -currency futures and options contracts.  For USDINR, SEBI said that the gross open position across all contracts will not exceed 69 percent of the total OI or $20 million, whichever is higher. Earlier this was $10 million.

FIIs continued to be net sellers yesterday, a trend visible all through this week.

Brent is seen flat to positive early today.

OUTLOOK - USDINR

Yesterday’s pull back evolved on anticipated lines, and with a push beyond 73.30, we are well set for a test of 73.53, unless there is a turn lower doesnot penetrate the 73.30-73.15 band.

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