USD/INR- The Indian Currency opens on a firm note but due to the strong dollar, the Indian rupee will likely continue to remain week. Accordingly, it settled at 74.51 on 06 July. The Indian rupee traded between 74.236 and 74.623 today. On the other hand, the dollar index increased today. Accordingly, its value rose and settled at 92.31 as of 7:42 AM EDT Tuesday.
USD/ INR: Oil Prices
The US WTI crude oil prices are highly volatile. Furthermore, with the ongoing oil demand concern and the growing coronavirus pandemic, it is highly uncertain and its value increased today. Also, recent studies predict that the oil demand will not reach the pre-crisis level until 2023. Further, studies and experts hint that carbon trade might take over and grow 10 times bigger than the global crude oil market. Accordingly, crude oil increased by 1.00% at 5:30 PM on 06 July to trade at USD 75.91 per barrel globally. On the other hand, Brent Crude was set at USD 76.91 per barrel and traded at a rate of 0.32% lower.
USD/ INR- Gold Prices
Precious metal prices increased in India during the relaxations. Accordingly, gold futures increased by 1.15% or 543.00 Rupees to settle at 47842.00 per 10 grams on the multi-commodity exchange. Similarly, Silver futures increased by 397.00 Rupees or 0.75% to settle at Rs. 68.708kg. The decline is attributed to the pressure from the stronger dollar and the unexpected lockdown. Also, 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 1806 per ounce in New York. On the other hand, Silver traded at USD 26.63 per ounce.
USD/ INR- Sensex Today
The BSE Sensex rose and ended in the red on 06 July. Accordingly, Sensex decreased by 0.04% or 18.82 points. Thereby ending the session at 52861.18 at 4:10 PM IST Tuesday. At the same time, the NIFTY decreased by 0.10% or 16.10 and ended up at 15818.25.