USD/ INR: Indian Rupee Forex Report on 28 July

USD/INR- The Indian Currency is recovering slowly from the previous month losses. Today, Indian Rupee consolidated over 9 paise after the losing run the past few days. Accordingly, it settled at 74.39 on 28 July. The Indian rupee traded between 74.313 and 74.546 today. On the other hand, the dollar index increased after decreasing for two consecutive days. Accordingly, its value rose and settled at 92.54 as of 05:05 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 0.73% at 5:30 PM on 28 July to trade at USD 72.15 per barrel globally. On the other hand, Brent Crude was set at USD 74.88 per barrel and traded at a rate of 0.54% higher.

USD/ INR- Gold Prices

Precious metal prices decreased in India, they are highly volatile trying to regain their momentum. Accordingly, gold futures decreased by 0.10% or 46.00 Rupees to settle at 47527.00 per 10 grams on the multi-commodity exchange. Conversely, Silver futures rose by 40.00 Rupees or 0.08% to settle at Rs. 66320. 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 1798 per ounce in New York. On the other hand, Silver traded at USD 24.67 per ounce.

USD/ INR- Sensex Today

The BSE Sensex fell and ended in the red on 28 July for the third consecutive day. Accordingly, Sensex decreased by 0.26% or 135.05 points. Thereby ending the session at 52443.71 at 4:10 PM IST Wednesday. On the other hand, the NIFTY decreased by 0.24% or 37.05 points and ended up at 15709.40.

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