USD/ INR: Indian Rupee Forex Report on 26 May

USD/INR- The Indian Currency value is rising steadily since last month, currently trading in the range of 73. In fact, this week, the rupee value is edging towards 72. Accordingly, it settled at 72.71 on 26 May. Despite the ongoing COVID-19 crisis, the Indian currency is strengthening against the US Dollar. The Indian rupee traded between 72.69 and 72.87 today. On the other hand, the dollar index increased today. Accordingly, its value rose and settled at 89.78 as of 7:34 AM EDT Wednesday.

USD/ INR: Oil Prices

The US WTI crude oil prices began this week on a high. 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 decreased by 0.35% at 5:30 PM on 26 May to trade at USD 65.84 per barrel globally. At the same time, Brent Crude was set at USD 68.50 per barrel and traded at a rate of 0.22% lower.

USD/ INR- Gold Prices

Precious metal prices increased amid the COVID-19 case rise in India Accordingly, gold futures increased by 0.44% or 220.00 Rupees to settle at 49087.00 per 10 grams on the multi-commodity exchange. Similarly, Silver futures increased by 245.00 Rupees or 0.34% to settle at Rs. 72403.00 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 1877.00 per ounce in New York. On the other hand, Silver traded at USD 27.68 per ounce.

USD/ INR- Sensex Today

The BSE Sensex fell and ended in the red on 25 May. Accordingly, Sensex increased by 0.75% or 379.99 points. Thereby ending the session at 51017.52 at 4:10 PM IST Wednesday. On the contrary, the NIFTY increased by 0.61% or 93.00 and ended up at 15301.45. Infosys, HDFC, TCS, and Bajaj Finances topped in the Nifty market today.

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