USD/ INR: Indian Rupee Continues to Stabilize

USD/INR- Rupee value was at 73.456 as of 9:45 PM IST against US Dollar Yesterday. On October 13, the rupee reached the highest of 73.475 and the lowest at 73.252. Concomitantly, the dollar index increased by 0.48% or 0.44 points and was at 93.51. Primarily, US politics, relief stimulus, and Coronavirus pandemic continue to remain the hot topics in the market.

USD/ INR: Oil Prices

The US WTI crude rose by 0.88% that is 2.23 points at 9:45 PM and settled at USD 40.31 per barrel on Tuesday. Simultaneously, the Brent Crude increased by 0.66% or 1.58 points and was at USD 42.38 per barrel at 8:45 PM. The drop in oil demand due to the rising coronavirus cases creates a timid aura for the investors. However, the returning supply is the main reason for the robust pick up in oil prices.

USD/ INR- Gold Prices

Gold futures dropped yesterday after starting the week positively with gains. That is, December gold futures fell by 1.64% or 840.00 points to Rs. 50267.0 per 10 grams on the multi-commodity exchange. Similarly, following the trend on 13 October Silver futures decreased by 2205 Rupees or 3.49% to Rs. 60893 per kg. Subsequently, in the international market, Gold traded at USD 1919 per ounce, and silver was trading at USD 25.04 per ounce. On Tuesday, the strong equity indices based on stimulus hope along with the dollar recovery put pressure on gold prices.

USD/ INR- Sensex on 13 October

Sensex ends in green for four days straight. Accordingly, it rose by 0.08% and saw a 31.71 point increase. Subsequently, ending the session at 40625.51 at 6:00 PM IST on 13 October. Similarly, the NIFTY increased by 0.03% or 3.55 points and ended the day at 11934.50. Reliance, Infosys, and HCL Tech were among the top gainers yesterday.

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