USD/ INR: Indian Rupee Forex Report 31 December

USD/INR- Indian rupee value settled at 73.06 on 31 December against the US Dollar at 6:00 pm UTC. The India currency continues to range between 70.682 and 77.010 this week. Yesterday, it reached the highest at 73.243 and the lowest at 73.952. At the same time, the dollar index dropped by 0.29% to settle at 89.94 as of 12:53 PM EST. 

USD/ INR: Oil Prices

The US WTI crude oil tumbled on 31 December after displaying gain momentum for two consecutive days. Accordingly, it fell by 0.60% at 11:45 PM GMT on 31 December to trade at USD 48.11 per barrel globally. On the other hand, Brent Crude trading at USD 51.28 per barrel as it traded at a rate of 0.68% higher on Thursday. Bearing in mind the low oil demand, the analysts estimate that the oil prices will settle above $50 in 2020.

USD/ INR- Gold Prices

In the previous trade on 31 December, Gold prices rose as investors sought a safe haven amid the resurgence of new coronavirus strain. Accordingly, December gold futures increased by 0.10% or 49 Rupees to Rs. 50,184.00 per 10 grams on the multi-commodity exchange. On the contrary, Silver futures fell by 316.00 Rupees or 0.46% to settle at Rs. 68,298.00 per kg. The emergence of COVID-19 pandemic and the COVID-19 vaccine kept the prices of precious metals on edge this year. The gold price rise is attributed to the dollar declines. In the international market, Gold was trading at USD 1893 per ounce in New York. On the other hand, Silver traded at USD 26.45 per ounce.

USD/ INR- Sensex Today

The BSE Sensex rose on 31 December. Accordingly, Sensex ended in the green as it increased by 0.01% or 5.11 points. Thereby ending the session at 47,751.33 at 4:10 PM IST on Thursday. On the contrary, the NIFTY decreased by 0.01% or 0.20 points and ended up at 13,981.75.

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