USD/ INR: Indian Rupee Edges Lower Against the Dollar

USD/INR- Rupee value was at 73.61 as of 9:45 PM IST on 17th September. The decline in the rupee comes after the Federal Reserve guided the US dollar. The losses in the domestic equity market also contributed to the fall. Further, the Indian rupee recorded the highest at 73.64 and lowest at 73.78.

USD/ INR: Oil Prices

The WTI futures fell by 0.72% and was trading at USD 39.87 per barrel on 17 September. On the other hand, Brent futures for November decreased by 0.59% was at USD 41.97 per barrel. The oil prices decline due to low demand spurred by the slow economic recovery. The rising number of coronavirus cases around the world does not bode well for the oil markets.

USD/ INR- Gold Prices

Gold prices further fell on 17th September. Accordingly, October gold futures decreased by 0.85% to Rs. 51,391 per 10 grams on the multi-commodity exchange. Likewise, Silver futures fell by 1.4% to 67,798 per kg. In the international market, spot gold traded at $1,954.42 per ounce, decreasing by 0.3% from the previous session. The gold prices declined at the global level as the US dollar strengthened. But, the Federal Reserve’s decision to hold the interest rates near zero for the next few years helped gold cap losses. Gold is also supported by economic uncertainty, US-China tensions and the Brexit negotiations.

USD/ INR- Sensex Today

The Sensex ended in red on 17 September after doing well for the past two days. That is, it was down by 0.82% and saw a 323.00 point decrease. Accordingly, it ended at 38,979.85 at 3:40 PM IST on 17 September. Likewise, the NIFTY saw a fall of 0.76% points or 88.45 points and ended up at 11,516.10. The market was hit by the tensions between the US and China and also the caution over slow economic recovery by the Federal Reserve.

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