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According to the Reserve Bank of India's (RBI) data supplement, which was publishedonFriday,India's foreign exchange reserves increased for the fourth week in a row to a more than threemonth high of $561.16 billion in the week through December 2.

After facilitating rupee commerce with Russia, Mauritius, and Sri Lanka, the government hasrequested that banks and trade organizations look at potential for rupee trading with more nations.The rupee trade agreement has already been put into effect by Indian banks opening special vostrorupee accounts (SVRA) with banks of these three countries.

Senior officials from India and the UK will commence the sixth round of negotiations for a potentialfree trade agreement (FTA) on Monday with the intention of wrapping up the discussions as soon aspossible, an official said. Due to recent political changes in the UK, the discussions are again takingplace again after a brief hiatus.

Saudi Energy Minister said will insist on all OPEC+ members to participate in decisions and that theywill not hesitate to act according to their development programs, while he also noted that OPEC+managed to live with all challenges including geopolitics and that the latest developments provedthe OPEC+ decision right, according to Reuters

China lifted tough pandemic restrictions on transport workers whereby long-haul truckers will nolonger have to work on “closed loop arrangements” which had subjected them to longquarantines, while they will also not have to undergo constant PCR testing, according to FT.

OUTLOOK - USDINR

Weakness eased after brief slippage past 82.17 on anticipated lines, and upswings wereaplenty in the second half of Friday. This sets up the stage to scale the recent reaction highof 82.76. Alternatively, inability to float above 82.48 would signal rejection trades, forcingUSDINR to trade sideways or seek support from 81.9.

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