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News 

* USDINR closed 43 paise higher at 74.31 yesterday snapping a 4 day losing streak

* US dollar index fall for 3rd consecutive day with focus on ISM services PMI

* NZDUSD jumps 40 pips as ASB bank expects RBNZ to raise cash rate in December

* IMF MD Georgieva warns of dangerous divergence between developing and developed countries recovering from Covid19 pandemic

* India's goods export for April-June quarter at $95bn, up 85% from 2020 and at a lifetime high

OUTLOOK - USDINR

Rupee opened 23 paise higher at 74.51 from its previous close against the US dollar and it finally closed a net 43 paise higher at 74.31 yesterday. USDINR had gained as far as the intraday high of 74.00 and fell to an intraday low of 74.55. The dollar index which compares the strength of the dollar against 6 major currencies closed 0.01% lower at 92.24. Brent crude futures rose 1.14% to trade at $77.56/barrel. USDINR near futures are at 74.4800 with the next support seen at 74.3608 and next resistance seen at 74.6983 ahead of market opening today.

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