USD/ INR: Indian Rupee Forex Report on 16 November

USD/INR- Indian rupee settled at 74.34 as of 10:25 PM IST against US Dollar on 16 November. The rupee opened high at 73.59 yesterday. On Monday, the Indian currency reached the highest of 74.32 and the lowest at 74.59. At the same time, the dollar index rose by 0.17% or 0.16 points and was at 92.49 as on 16 November 08:48 PM EST. 

USD/ INR: Oil Prices

The US WTI crude increased by 7.3% and settled at USD 41.39 per barrel at 11:45 PM GMT on 16 November. On the other hand, Brent Crude was trading at USD 43.93 per barrel as it traded 6.34% up yesterday. The oil prices surge as another COVID-19 vaccine efficacy news unveils. However, the abundant supply of oil is still a worry. Also, Joe Biden’s advisory team assure that lockdown will be the last resort to deal with the pandemic. This announcement gave both economy and oil market hopes of recovery.

USD/ INR- Gold Prices

Gold futures started this week on a high. Accordingly, December gold futures increased by 3.25% to Rs. 51,500 per 10 grams on the multi-commodity exchange. Similarly, Silver futures increased by 10% to settle at Rs. 63,610 per kg. Despite COVID-19 vaccine grabbing all the attention, the demand for gold and silver metals has not subsided. In the international market, Gold was trading at USD 1892.15 per ounce in New York. On the other hand, Silver traded 1.1% higher at USD 24.91 per ounce.

USD/ INR- Sensex Today

Sensex ended the day in the green on 16 November. Accordingly, it rose by 0.45% and saw a 194.98 point rise. Thereby ending the session at 43637.98 at 6:00 PM IST on Monday. Similarly, the NIFTY rose by 60.30 points or 0.47% and ended up at 12,780.25.

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