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Rupee Closes At One Year High Against Dollar- HDFC Securities

* Indian rupee traded higher on Monday on dollar decline witnessing strong buying in the opening trade. Rupee capped upside in the afternoon after RBI intervention at 72.30 levels. The domestic equity indices fell by more than 2% on Monday which reversed gains of rupee from almost 25 paisa in a day trade.

* The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.33% to 89.95.

* The six-person Monetary Policy Committee voted unanimously to keep its main repurchase rate unchanged at 4% this month, while retaining its accommodative stance. Governor Shaktikanta Das said that while a moderation in headline inflation ensured that the policy stance would remain easy, core inflation -- which strips out volatile fuel and food prices – was sticky, according to the minutes of the Feb. 3-5 meeting published Monday.

* India government will sell 40 billion rupees each of 4.48% 2023 debt and Floating Rate Bonds 2033 in an auctions to be conducted by the RBI on Feb. 26, according to a statement on the website of Department of Economic Affairs.

* Indian benchmark equity indices fell the most in two months on Feb 22, ending lower for the fifth consecutive session. At close, the Nifty 50 index fell 2% or 306 points to end at 14,675.

USDINR

* USDINR February futures closes to one year lows breaching previous support levels.

* The Pair has 20 day moving average resistance at 72.74 while Doji resistance at 72.6150.

* The momentum oscillators on Daily and Weekly chart are showing weakness despite of oversold territory.

* Technically, spot USDINR is having support at 72.07, the 50% Fibonacci retracement level adjoining low of 68.6250 and 77.6575

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