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News Box

* USDINR closed 14 paise lower at 74.74 yesterday

* FBIL set the reference rate for USDINR at 73.5047 and Euro at 86.099

* New loans data from Chinese Yuan could indicate Chinese stimulus efforts

* ECB member Panetta: ECB must accept no further delay in lifting inflation

* Federal chair Powell says US economy is at inflection point. To keep inflation in check below 2%

OUTLOOK - USDINR

Rupee opened 17 paise lower at 74.77, from its previous close against the US dollar and it finally closed a net 14 paise lower at 74.74 on friday. USDINR had gained as far as the intraday high of 74.53 and fell to an intraday low of 74.97. The dollar index which compares the strength of the dollar against 6 major currencies fell by 0.23% and closed at 92.18. Brent crude futures rose 0.81% to trade at $63.35/barrel. USDINR near futures are at 74.8150 with the next support seen at 74.6175 and next resistance seen at 75.0650 ahead of market opening today.

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