USD/ INR: Indian Rupee Forex Report 08 April

USD/INR- The Indian Rupee plummets again today. Accordingly, it settled at 74.62 on 8 April. The fall in rupee value is mainly attributed to the surge in COVID-19 cases and RBI’s unchanged repo rates. The Indian rupee traded between 74.622 and 74.577 today. On the other hand, the dollar index increased today. Accordingly, its value rose and settled at 92.13 as of 11:04 AM EDT Thursday.

USD/ INR: Oil Prices

The US WTI crude oil prices increased on Thursday. 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 0.13% at 8:47 PM on 8 April to trade at USD 59.68 per barrel globally. On the other hand, Brent Crude was set at USD 63.15 barrel and traded at a rate of 0.08% lower today.

USD/ INR- Gold Prices

Precious metal prices fell today amid the resurgence of COVID-19. Accordingly, gold futures decreased by 0.07% or 32.00 Rupees to settle at 46330.00 per 10 grams on the multi-commodity exchange. Likewise, Silver futures dipped by 205.00 Rupees or 0.31% to settle at Rs. 66429.00 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 1736.50 per ounce in New York. On the other hand, Silver traded at USD 25.03 per ounce.

USD/ INR- Sensex Today

The BSE Sensex rose and ended in the green on April 8. Accordingly, Sensex increased by 0.54% or 460.37 points. Thereby ending the session at 49,746.21 at 4:10 PM IST Thursday. Similarly, the NIFTY increased by 0.62% or 135.55 points and ended up at 14873.80.

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