USD/ INR: Indian Rupee Forex Report on 17 May

USD/INR- The Indian Rupee value is rising slowly but steadily since mid-April. Currently, trading in the range of 73. Accordingly, it settled at 73.21 on 17 May. Despite the ongoing COVID-19 crisis, the Indian currency is strengthening against the US Dollar. The Indian rupee traded between 73.150 and 73.480 today. On the other hand, the dollar index decreased today. Accordingly, its value fell and settled at 90.08 as of 9:57 PM EDT Monday.

USD/ INR: Oil Prices

The US WTI crude oil prices began this month on a positive note. However, 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. Accordingly, crude oil increased by 0.29% at 7:05 PM on 17 May to trade at USD 66.46 per barrel globally. At the same time, Brent Crude was set at USD 69.67 per barrel and traded at a rate of 0.30% higher.

USD/ INR- Gold Prices

Precious metal prices increased amid the COVID19 cases surge in India for the second consecutive day. Accordingly, gold futures increased by 1.68% or 799.00 Rupees to settle at 48475.00 per 10 grams on the multi-commodity exchange. At the same time, Silver futures increased by 2264.00 Rupees or 3.18% to settle at Rs. 73349.00 per kg. 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 1832.00 per ounce in New York. On the other hand, Silver traded at USD 27.38per ounce.

USD/ INR- Sensex Today

The BSE Sensex rose and ended in the green on 17 May. Accordingly, Sensex increased by 1.74% or 848.18 points. Thereby ending the session at 49580.73 at 4:10 PM IST Monday. Similarly, the NIFTY increased by 0.47% or 76.60 and ended up at 16462.80.

Leave a Reply

Get Verified Suppliers of Rice, Wheat, Dry Fruits, Pulses and Other Grains