The USDINR opened higher by 30 PIPS at 71.71/72 on Thursday versus previous close 72.01/72 levels. The Domestic unit getting resistance on upper levels on Dollar slip from one month higher levels as well as Domestic IIP and CPI data show some relief.
INTRADAY RANGE - 71.32 (71.61 - 72.05) 72.32
IIP output growth fastest- India's industrial output grew at an 11-month high of 8.1% in October mainly on the back of mining, power and manufacturing sectors coupled with higher off take of capital as well as consumer durable goods. Industrial production measured in terms of Index of Industrial Production grew 1.8% in October last year, as per official data released by the Central Statistics Office Wednesday.
Retail inflation slumps - Retail inflation plunged to a 17-month low in November at 2.33%, mainly on account of decline in prices of kitchen essentials like vegetables, eggs and pulses. Retail inflation, which is calculated on the consumer price index (CPI), for October this year has been revised slightly up at 3.38% from 3.31% earlier.
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