USDINR hovering near support levels at 73.45, The Domestic unit getting support from regular foreign inflows but in contrary central bank try to control excess liquidity thru time to time intervention despite dollar languished near a 2-1/2-year low on Tuesday with demand for safe-havens flagging as U.S. lawmakers pushed forward with a COVID-19 relief package.
India’s major grain-growing state of Punjab on Monday asked police to crack down on farmers and sympathisers vandalising telecommunication masts as they intensify their weeks-long protests against farm deregulation.
India should maintain its medium-term inflation target at 4% when it carries out a five-year review of the goal in March, two senior central bank officials recommended in a paper released on the banks's website on Monday.
Tesla Inc will come to India early next year, country's transport minister Nitin Gadkari told national daily the Indian Express on Monday.
India decided on Monday to lift a ban on onion exports from Jan. 1, as prices have fallen sharply in the last few weeks on expectations of a big crop.
INTRADAY RANGE - 73.28 ( 73.42 - 73.62 ) 73.75
GLOBAL
Short positions on the dollar swelled in the week ended Dec. 21 to $26.6 billion, the highest in three months, according to Reuters' calculations based on data released by the Commodity Futures Trading Commission on Monday.
Investors are betting the dollar will continue to decline - it fell more than 6% this year - on expectations the Federal Reserve will hold interest rates near zero and the U.S. economy will struggle to recover from coronavirus-related shutdowns.
Euro was boosted as risk sentiment improved in the wake of Britain's trade deal with the European Union and U.S. President Donald Trump's decision to approve a new fiscal stimulus package.
Sterling has underperformed since the Brexit deal was reached, with traders saying the news was likely priced in.
The British pound dipped 0.45% against the U.S. dollar to $1.3485, and was holding below a two-and-a-half-year high of $1.3625 reached on Dec. 17.
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