USD/ INR: Indian Rupee Forex Report on 25 August

USD/INR- The Indian Currency is recovering slowly from the previous month losses. Today, Indian Rupee recovers and stays defensive this month by staying above 74. Accordingly, it settled at 74.23 on 25 August. The Indian rupee traded between 74.136 and 74.305 today. As of now, the dollar inflow and the intervention from RBI weakens the upward trend of USD/INR. On the other hand, the dollar index increased today after experiencing a fall last week. Accordingly, its value rose and settled at 92.96 as of 04:15 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 0.12% at 03:50 PM on 25 August to trade at USD 67.62 per barrel globally. On the other hand, Brent Crude was set at USD 71.19 per barrel and traded at a rate of 0.20% higher.

USD/ INR- Gold Prices

Precious metal prices are slowing rebounding in India, they are highly volatile trying to regain their momentum. Accordingly, gold futures decreased by 0.50% or 240.00 to settle at 47372.00 per 10 gram on the multi-commodity exchange. At the same time, Silver futures fell by 265.00 or 0.65% to settle at 63063.00 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 1796 per ounce in New York. On the other hand, Silver traded at USD 23.73 per ounce.

USD/ INR- Sensex Today

The BSE Sensex fell and ended in the red on 25 August. Accordingly, Sensex decreased by 0.03% or 14.77 points. Thereby ending the session at 55944.21 at 4:10 PM IST Wednesday. On the other hand, the NIFTY increased by 0.06% or 10.05 points and ended up at 16634.35.

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