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News Box

* USDINR closed 21 paise higher at 73.30 yesterday

* During the week ended May 7th, India's forex reserve increased by $1.444bn to reach $589.465bn

* US Dollar fell on Friday following weak retail sales and consumer sentiment index

* Dallas Fed president Kaplan: Worried about excesses and imbalances in economy and housing market.

* China retail sales and industrial production stats to release today, could affect US dollar

OUTLOOK - USDINR

Rupee opened flat at 73.51, from its previous close against the US dollar and it finally closed a net 21 paise higher at 73.30 on friday. USDINR had gained as far as the intraday high of 73.21 and fell to an intraday low of 73.55. The dollar index which compares the strength of the dollar against 6 major currencies fell 0.46% and closed at 90.30. Brent crude futures rosel 2.73% to trade at $69.21/barrel. USDINR near futures are at 73.4350 with the next support seen at 73.3250 and next resistance seen at 73.5800 ahead of market opening today

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