USD/ INR: Indian Rupee Forex Report on 18 August

USD/INR- The Indian Currency is recovering slowly from the previous month losses. Today, Indian Rupee recovers just below the key level. Accordingly, it settled at 74.28 on 18 August. The Indian rupee traded between 74.227 and 74.375 today. On the other hand, the dollar index decreased again after experiencing continuous gains all last week. Accordingly, its value fell and settled at 93.06 as of 06:15 PM 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. 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 0.90% at 06:20 PM on 18 August to trade at USD 67.19 per barrel globally. On the other hand, Brent Crude was set at USD 68.80 per barrel and traded at a rate of 1.12% higher.

USD/ INR- Gold Prices

Precious metal prices rebounded in India, they are highly volatile trying to regain their momentum. Accordingly, gold futures increased by 0.21% or 98.00 to settle at 47378 per 10 gram on the multi-commodity exchange. Conversely, Silver futures rose by 215.00 or 0.34% to settle at 634441 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 1785.66 per ounce in New York. On the other hand, Silver traded at USD 23.65 per ounce.

USD/ INR- Sensex Today

The BSE Sensex rose and ended in the red on 18 August. Accordingly, Sensex decreased by 0.29% or 162.78 points. Thereby ending the session at 55629.49 at 4:10 PM IST Wednesday. On the other hand, the NIFTY decreased by 0.28% or 45.75 points and ended up at 16568.85.

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