USD/ INR: Indian Rupee Forex Report on 27 October

USD/INR- The Indian Currency closes close to 75 due to inflation concerns. Accordingly, it settled at 75.04 on 27 October. The Indian rupee traded between 74.884 – 75.110 today. As of now, the dollar inflow and the intervention from RBI weaken the upward trend of USD/INR. On the other hand, the dollar index decreased today. Accordingly, its value rose and settled at 93.90 of 05:05 PM EDT Wednesday.

USD/ INR: Oil Prices

The US WTI crude oil prices are highly volatile. Oil refiners are beginning to face the margins affected due to the record high prices of natural gases in Europe and Asia. Also, the oil demand forecasts fall flat as the demand continues to grow. Owing to this, the prediction of oil prices are highly uncertain these days. The recent news is that the oil prices are set to rise high based on the huge crude inventory draw. Accordingly, crude oil decreased by 1.41% at 05:20 PM on 27 October to trade at USD 83.36 per barrel globally. On the other hand, Brent Crude was set at USD 85.34 per barrel and traded at a rate of 1.23% lower.

USD/ INR- Gold Prices

Precious metal prices are slowing rebounding in India, they are highly volatile trying to regain their momentum. The gold import in India has surged 8 times higher. Accordingly, gold futures decreased by 0.54% or 258.00 to settle at 47942.00 per 10 gram on the multi-commodity exchange. At the same time, Silver futures fell by 608.00 or 0.92% to settle at 65531.00 kg. The scare of the emergence of the third wave of 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 1761 per ounce in New York. On the other hand, Silver traded at USD 22.42 per ounce.

USD/ INR- Sensex Today

The BSE Sensex fell and ended in the red on 27 October. Accordingly, Sensex decreased by 0.34% or 206.93 points. Thereby, ending the session at 61143.33 at 4:10 PM IST Wednesday. On the other hand, the NIFTY also decreased by 0.31% or 57.45 points and ended at 18210.95.

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