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* USDINR ended 7 paise higher at 72.68 yesterday

* FBIL set the reference rate for USDINR at 72.7998 and Euro at 88.2877

* Pound seen strong amid optimism from covid vaccine

* Recovery optimism in global markets weaken dollar strength

* India trade defecit revised slightly lower to 14.54

OUTLOOK - USDINR

Rupee opened higher at 72.61, 14 paise higher from the previous close of 72.75 against the US dollar. It finally closed at 72.68 against the US dollar. USDINR had gained as far as the intraday high of 72.57 and fell to an intraday low of 72.69. The dollar index which compares the strength of the dollar against 6 major currencies fell 0.15% and closed at 90.34. Brent crude futures rose by 1.23% to trade at $63.20/barrel. USDINR near futures are at 72.7200 with the next support seen at 72.6292 and next resistance seen at 72.7967 ahead of market opening today.

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