USDINR likely to commence Wednesday session within range bound between 73.13 - 73.20 levels. Pair is finding support near 72.90 - 73.00 levels as oversold territory. On Last trading session USDINR break nine days losing momentum, Pair opened at 73.15/16 , hit intraday lows at 73.0850/73.0950 before witnessing day high at 73.2750/2850. USDINR finished last session with mild firm note at 73.18/19 levels.
India is set to roll out a COVID-19 vaccination programme by next week, aiming to cover 300 million people by July, its top health official said in what would be one of the world's largest inoculation drives against the coronavirus.
British Prime Minister Boris Johnson on Tuesday cancelled a planned trip to India later this month, citing the need to oversee the pandemic response at home.
Indian Prime Minister Narendra Modi said the nation was working on a plan to develop its coastal regions that will include efforts to boost fisheries and seaweed exports.
Vietnam, the world's third biggest exporter of rice, has started buying the grain from rival India for the first time in decades after local prices jumped to their highest in nine years amid limited domestic supplies, four industry officials told Reuters.
INTRADAY RNAGE - 72.91 ( 73.06 - 73.29 ) 73.46
GLOBAL
Dollar index steadied in early Asia as traders looked to the outcome of a Senate election in Georgia to drive the next move in market sentiment.
The euro also rose past major resistance at $1.2307 to as high as $1.2328 in early Asia trade, its strongest since April 2018, before slipping back to $1.2291 as traders watched close early results from Georgia flow in.
The yuan surged to its highest since June 2018 on Tuesday after the People's Bank of China lifted the midpoint of its trading band by 1%, the biggest one-day lift since China abandoned a peg to the dollar in 2005.
The pound's rally to May 2018 highs is widely attributed to traders unwinding their short-term hedges, selling their protection against a weakening currency, rather than betting on further gains after Britain stuck a last-minute trade deal with the European Union.
Brent oil prices rose on Wednesday to the highest since February after Saudi Arabia agreed to make bigger cuts in output than expected during a meeting with allied producers, while industry data showed U.S. crude stockpiles fell last week.
An exchange-traded fund that offers exposure to soybean futures extended a rally Tuesday, as weather as weather continued to raise concerns about South America's crop and global demand remains strong. The Teucrium Soybean Fund was up 3.6% Tuesday afternoon, extending its one-month gain to nearly 15%. Soybean prices broke above a key psychological barrier - $13 a bushel - on New Year's Eve for the first time since 2014 as South American weather turned hot and dry and demand from big countries like China recovered from earlier slumps in the wake of the coronavirus lockdowns.
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