RUPEE OPENED AT 72.79/80

USDINR start Tuesday trade with 8 pips gain on India CPI is on comfortable zone give some space to RBI for Interest rate front. Rupee Opened at 72.79/80 levels after yesterday finished at 72.88/89 levels against Greenback. After Indian Market Opened USDCNY sharp correction keep domestic currency favorable. Major state-owned Chinese banks were seen selling dollars at around 6.97 per dollar in the onshore spot foreign exchange market in early trade on Tuesday, three traders said, in an apparent attempt to arrest sharp losses in the local currency.

India's retail inflation rate eased to 3.31 per cent in October from a year earlier. Analysts polled by Reuters had forecast October's annual increase in the consumer price index at 3.67 per cent, compared with a downwardly revised 3.70 per cent in September.

INTRADAY RANGE - 72.40 (72.68 - 72.88) 73.10

Intraday events that Impact On Rupee

1. PBOC SELLING DOLLAR AGAINST Yuan

2. LIBOR MOUNTING

3. INDICES MOVEMENT

4. OIL GAME

5. BREXIT

GLOBAL MARKET SENTIMENT​

1. The USD retained its stronger tone against the euro as anxiety about the outcomes of the Brexit negotiations and Italian budget talks with the EU weighed.

2. China state banks seen selling dollars in FX market to arrest yuan losses: traders EUR/USD Technical: Sellers Take Aim Below 1.12 Figure Oil falls as Trump raps

3. The People's Bank of China (PBOC) set the yuan reference rate at 6.9629 vs Monday's fix of 6.9476.

4. The AUD/USD is on the defensive, having closed below the 50-day EMA  

5. OPEC's supply cut plan, global markets skid

6. USD/JPY has dropped to a low of 113.58 having lost the 114 handle as the yen picks up a safe haven bid as global stock prices continue to fall.