USD/ INR: Indian Rupee Forex Report 05 April

USD/INR- The Indian Rupee settled at 73.28 at 8:15 PM INR on 5 April. The fall in rupee value is mainly attributed to the surge in COVID-19 cases. The Indian rupee traded between 73.260 and 73.319 today. On the other hand, the dollar index started this month on a low. Accordingly, its value decreased and settled at 92.60 as of 11:35 AM EDT Monday.

Indian currency most likely to fall towards 76.50 in the late 2021. Owing to COVID-19, India rupee was the worst performing Asian currency in the year 2020.

USD/ INR: Oil Prices

The US WTI crude oil prices increased on Monday. However, with the ongoing oil demand concern and the growing coronavirus pandemic, it is highly uncertain. Also, recent studies predict that the oil demand will not reach the pre-crisis level until 2023. Accordingly, crude oil increased by 0.09% at 8:30 PM on 5 April to trade at USD 58.70 per barrel globally. On the other hand, Brent Crude was set at USD 62.13 barrel and traded at a rate of 0.03% lower today.

USD/ INR- Gold Prices

Precious metal prices rose today after falling last month amid the resurgence of COVID-19. Accordingly, gold futures increased by 0.52% or 232.00 Rupees to settle at 44999.00 per 10 grams on the multi-commodity exchange. On the contrary, Silver futures fell by 562.00 Rupees or 0.86% to settle at Rs. 64527.00 per kg. The resurgence of the COVID-19 pandemic and the COVID-19 mutants kept precious metals’ prices on edge this year. In the international market, Spot Gold was trading at USD 1789 per ounce in New York. On the other hand, Silver traded at USD 24.28 per ounce.

USD/ INR- Sensex Today

The BSE Sensex fell and ended in the red on April 5. Accordingly, Sensex decreased by 1.74% or 870.51 points. Thereby ending the session at 49159.32 at 4:10 PM IST Monday. Similarly, the NIFTY decreased by 1.54% or 229.55 points and ended up at 14637.80.

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