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News Box

* USDINR closed marginally lower at 74.07 yesterday

* FBIL set the reference rate for USDINR at 74.9144 and Euro at 90.0876

* India's April trade defecit at $15.24bn

* BoE to declare Britain's economy recovering faster than expected as vaccine rollout continues

* US Secretery of State Blinken: US has concern regarding Chinese economic conduct

* US tresury secretery Yellen assures that President Biden's infrastructure spending wont cause inflation rise

OUTLOOK - USDINR

Rupee opened 4 paise higher at 74.03, from its previous close against the US dollar and it finally closed flat at 74.07 on friday. USDINR had gained as far as the intraday high of 73.94 and fell to an intraday low of 74.13. The dollar index which compares the strength of the dollar against 6 major currencies rose 0.74% and closed at 91.30. Brent crude futures fell 1.9% to trade at $67.33/barrel. USDINR near futures are at 74.3900 with the next support seen at 74.2700 and next resistance seen at 74.4950 ahead of market opening today.

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