Published on 20/01/2021 9:19:12 AM | Source: Geojit Financial Services Ltd

Indian Rupee ended at 73.17 yesterday, up 11 paise against its previous close of 73.28 - Geojit Financial

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* Indian Rupee ended at 73.17 yesterday, up 11 paise against its previous close of 73.28.

* FBIL set the reference rate for USDINR at 73.22 and Euro at 88.4122.

* US dollar slipped on better economic data and stimulus talks from Janet Yellen.

* ECB gained on better than expected German data while UK’s pound also got support from USD weakness.

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

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

* PBOC left its loan prime rate unchanged for ninth month; one-year LPR stood at 3.85%.

* The People's Bank of China set the yuan reference rate at 6.4836 versus Tuesday's fix at 6.4883.



The Indian Rupee after previous day’s weakness, rose and closed near the day’s highest level tracking the gains in the domestic equity markets. Continued capital inflows was also a positive trigger for the currency markets. Local unit yesterday opened at 73.16 a dollar and moved in a range of 73.14 and 73.31 before settling the day at 73.17 against its previous close of 73.28. On the previous day, Rupee was down by 21 paise. FIIs were buyers in the capital market segment on 19 Jan 2021; bought shares worth Rs 257.55cr as per exchange’s provisional figures. DIIs, on the other end were sellers to the tune of Rs 199.3cr for the same period. Oil prices edged higher on the optimism that economic stimulus will revive the demand. Among central banks, BoJ is set to begin its twoday policy meeting today while ECB will release interest rate decision on Thursday. For USDINR, 73.29 and 73.55 may act as crucial levels in the upside while 73.02 and 72.85 will act as support levels


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