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* USDINR closed 51 paise lower at 75.46 yesterday

* FBIL set the reference rate for USDINR at 74.8525 and Euro at 89.0041

* UK CPI at 0.7% vs 0.4 in Feb vs 0.8% forecast

* US dollar rose on wednesday due to damnpening of worldwide stock market due to covid fears

* CAD rises 0.9% on BoC emergency stimulus hopes

OUTLOOK - USDINR

Rupee opened 8 paise higher at 74.95, from its previous close against the US dollar and it finally closed a net 51 paise lower at 75.46 yesterday. USDINR had gained as far as the intraday high of 74.54 and fell to an intraday low of 75.52. The dollar index which compares the strength of the dollar against 6 major currencies fell by 0.1% and closed at 91.11. Brent crude futures fell 1.9% to trade at $65.22/barrel. USDINR near futures are at 75.1175 with the next support seen at 74.7275 and next resistance seen at 75.3425 ahead of market opening today.

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