USD/ INR: Indian Rupee Forex Report 09 April

USD/INR- The Indian Rupee plummets again today. Accordingly, it settled at 74.73 on 9 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 74.530 and 74.981 today. On the other hand, the dollar index increased today. Accordingly, its value rose and settled at 92.18 as of 4:59 PM EDT Friday.

USD/ INR: Oil Prices

The US WTI crude oil prices decreased on Friday. 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 decreased by 0.47% at 7:47 PM on 9 April to trade at USD 59.32 per barrel globally. At the same time, Brent Crude was set at USD 62.95 barrel and traded at a rate of 0.40% lower today.

USD/ INR- Gold Prices

Precious metal prices fell today amid the resurgence of COVID-19. Accordingly, gold futures decreased by 0.49% or 228.00 Rupees to settle at 46610.00 per 10 grams on the multi-commodity exchange. Likewise, Silver futures dipped by 275.00 Rupees or 0.39% to settle at Rs. 66253.00 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 1745.00 per ounce in New York. On the other hand, Silver traded at USD 25.15 per ounce.

USD/ INR- Sensex Today

The BSE Sensex fell and ended in the red on April 9. Accordingly, Sensex decreased by 0.31% or 154.89 points. Thereby ending the session at 49,591.32 at 4:10 PM IST Friday. Similarly, the NIFTY decreased by 0.26% or 38.95points and ended up at 14,834.85.

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