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* USDINR closed 19 paise lower at 73.02 yesterday

* FBIL set the reference rate for USDINR at 72.7572 and Euro at 86.9885

* India's forex reserves increase by $689mn to $584.55bn

* Morgan Stanley says,''US economic recession effectively over"

* US senate has approved President Bidens $1.9tn stimulus package, likely to lift yields

OUTLOOK - USDINR

Rupee opened 15 paise higher at 72.98, from its previous close against the US dollar and it finally closed at 73.02, down 19 paise on friday. USDINR had gained as far as the intraday high of 72.73 and fell to an intraday low of 73.09. The dollar index which compares the strength of the dollar against 6 major currencies increased 0.35% and closed at 91.95. Brent crude future rose 2.59% to trade at $68.47/barrel. USDINR near futures are at 73.3050 with the next support seen at 73.0550 and next resistance seen at 73.4500 ahead of market opening today.

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