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• USDINR ended 6 paise down at 72.75 yesterday

• FBIL set the reference rate for USDINR at 72.7219 and Euro at 88.2587

• UK January inflation rate up 0.7% slightly above forecast of 0.6%

• US industrial output, inventories and retail sales rises above forcasted levels

• Doubts over effectiveness of vaccine against new covid strains

OUTLOOK - USDINR

upee opened higher at 72.64, 4 paise higher from the previous close of 72.68 against the US dollar and finally closed flat at 72.69, down 1 paisa. USDINR had gained as far as the intraday high of 72.63 and fell to an intraday low of 72.85. The dollar index which compares the strength of the dollar against 6 major currencies fell 0.29% and closed at 90.21. Brent crude futures fell 0.09% to trade at $63.24/barrel. USDINR near futures are at 72.7825 with the next support seen at 72.6750 and next resistance seen at 72.8850 ahead of market opening today.

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