USD/ INR: Indian Rupee Forex Report on 27 July

USD/INR- The Indian Currency is recovering slowly from the previous month losses. Today, Indian Rupee consolidated its biggest jump since May. Accordingly, it settled at 74.44 on 27 July. The Indian rupee traded between 74.275 and 74.543 today. On the other hand, the dollar index decreased today for the second consecutive day. Accordingly, its value fell and settled at 92.54 as of 06:05 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 0.047% at 6:09 PM on 27 July to trade at USD 71.96 per barrel globally. On the other hand, Brent Crude was set at USD 74.73 per barrel and traded at a rate of 0.31% higher.

USD/ INR- Gold Prices

Precious metal prices increased in India, slowly regaining their momentum. Accordingly, gold futures increased by 0.09% or 42.00 Rupees to settle at 47503.00 per 10 grams on the multi-commodity exchange. Similarly, Silver futures rose by 39.00 Rupees or 0.07% to settle at Rs. 65710. 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 1795 per ounce in New York. On the other hand, Silver traded at USD 25.16 per ounce.

USD/ INR- Sensex Today

The BSE Sensex fell and ended in the red on 27 July for the second consecutive day. Accordingly, Sensex decreased by 0.52% or 273.51 points. Thereby ending the session at 52852.27 at 4:10 PM IST Tuesday. On the other hand, the NIFTY decreased by 0.49% or 78.00 points and ended up at 15746.45.

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