USD/INR- The Indian Currency opens on a firm note, the Indian rupee is extending the previous month losses. Accordingly, it settled at 74.69 on 07 July. The Indian rupee traded between 74.575 and 74.800 today. On the other hand, the dollar index increased today. Accordingly, its value rose and settled at 92.59 as of 7:42 AM EDT Wednesday.
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 0.60% at 5:30 PM on 07 July to trade at USD 73.81 per barrel globally. On the other hand, Brent Crude was set at USD 74.91 per barrel and traded at a rate of 0.51% lower.
USD/ INR- Gold Prices
Precious metal prices increased in India during the relaxations. Accordingly, gold futures increased by 0.27% or 127.00 Rupees to settle at 47811.00 per 10 grams on the multi-commodity exchange. Similarly, Silver futures increased by 762.00 Rupees or 1.15% to settle at Rs. 68560.00. 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 1805 per ounce in New York. On the other hand, Silver traded at USD 26.33 per ounce.
USD/ INR- Sensex Today
The BSE Sensex rose and ended in the green on 07 July. Accordingly, Sensex increased by 0.37% or 193.58 points. Thereby ending the session at 53054.76 at 4:10 PM IST Wednesday. At the same time, the NIFTY increased by 0.39% or 61.40 and ended up at 15879.65.