The USDINR pair made a flat opening at 74.99 levels and traded in the range-bound level of 74.90-75.05 with a sideways bias. The pair finally closed at 75.03 levels. The RBI set the reference rate at 74.9519 levels. The USDINR pair initially fell because foreign banks sold the US dollar for overseas investments into Indian companies raising funds through IPO and other means. However, later in the day the pair recovered from the loss and closed the day steady. 

The dollar had firmed globally after better-than-expected economic data in the US strengthened prospects of quicker economic recovery in the world's largest economy. Investor sentiment for Asian assets improved after China's industrial profits surged 16.3% year-on-year in September, according to data released. On an annualized basis, a premium on the one-year, exact period dollar/rupee contract settled static at 4.65% as compared to the previous close. The 10-year G-Sec benchmark 06.10 GS 2031 closed the day at 6.337%. 

German consumers kept their spirits high heading into November despite rising inflation, as the mood improved for the second month in a row, according to a survey. The German GfK Consumer Confidence improved to 0.9 for the month of November, while Import Prices rose 1.3% MoM in September and 17.7% from a year earlier. Oil prices fell after industry data showed crude oil stockpiles rose more than expected and fuel inventories unexpectedly increased last week in the United States, the world's largest oil consumer.

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