News Box

* USDINR closed 58 paise higher at 74.35 on friday

* FBIL set the reference rate for USDINR at 74.8899 and Euro at 89.0431

* US asks 10 Russian deplomats to leave, Russia retaliates with same action

* China to import billions of dollars worth gold, global gold prices may stabilize

* Canada to reduce purchase of bonds from 4bn/week to 3bn/week: BoC

OUTLOOK - USDINR

Rupee opened 17 paise higher at 74.76, from its previous close against the US dollar and it finally closed a net 58 paise higher at 74.35 on friday. USDINR had gained as far as the intraday high of 74.28 and fell to an intraday low of 74.76. The dollar index which compares the strength of the dollar against 6 major currencies fell by 0.09% and closed at 91.59. Brent crude futures rose 0.4% to trade at $67.21/barrel. USDINR near futures are at 74.5175 with the next support seen at 74.2258 and next resistance seen at 75.0033 ahead of market opening today.

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