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02-03-2021 09:26 AM | Source: Geojit Financial Services Ltd
Indian Rupee ended at 72.96 yesterday, up 6 paise against its previous close of 73.02 - Geojit Financial
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* Indian Rupee ended at 72.96 yesterday, up 6 paise against its previous close of 73.02

* FBIL set the reference rate for USDINR at 73.0189 and Euro at 88.5812

* RBA to continue significant monitory support for years, cash rates to be kept near zero as long as necessery as they have no appetite for negative rates

* Eurozone Q4 GDP growth rate down -0.7% instead of forcasted -1%, EURUSD still down

* US and UK service PMI data to release toady, BoE policy meeting tomorrow

OUTLOOK - USDINR

Rupee opened flat at monday's close of 73.02 and gained 6 paise before closing yesterday at 72.96. Rupee had gained as far as the intraday high of 72.92 and intraday low was seen at 73.05. The dollar index which compares the strength of the dollar against 6 major currencies was down 0.06% and closed at 90.92. Brent crude futures gained 1.46% to close at $57.17/barrel. USDINR near futures are at 73.2150 with the next support seen at 73.1167 and next resistance seen at 73.3042 levels ahead of market opening on wednesday.

 


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