USD/ INR: Indian Rupee Forex Report on 17 August

USD/INR- The Indian Currency is recovering slowly from the previous month losses. Today, Indian Rupee gains for two consecutive weeks after falling the past few days. Accordingly, it settled at 74.34 on 17 August. The Indian rupee traded between 74.135 and 74.394 today. On the other hand, the dollar index increased again after experiencing continuous losses all last week. Accordingly, its value rose and settled at 93.01 as of 07:45 PM 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. 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 0.37% at 07:20 PM on 17 August to trade at USD 67.54 per barrel globally. On the other hand, Brent Crude was set at USD 69.86 per barrel and traded at a rate of 0.50% higher.

USD/ INR- Gold Prices

Precious metal prices rebounded in India, they are highly volatile trying to regain their momentum. Accordingly, gold futures decreased by 0.4% or 45.00 Rupees to settle at 4643 per gram on the multi-commodity exchange. Conversely, Silver futures rose by 62.70 Rupees or 0.06% to settle at 63.60. 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 1730.47 per ounce in New York. On the other hand, Silver traded at USD 23.43 per ounce.

USD/ INR- Sensex Today

The BSE Sensex rose and ended in the green on 17 August. Accordingly, Sensex increased by 0.38% or 209.69 points. Thereby ending the session at 55792.27 at 4:10 PM IST Tuesday. On the other hand, the NIFTY increased by 0.31% or 51.55 points and ended up at 16614.60.

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