USD/ INR: Indian Rupee Forex Report on 29 July

USD/INR- The Indian Currency is recovering slowly from the previous month losses. Today, Indian Rupee gains for two consecutive days after falling the past few days. Accordingly, it settled at 74.25 on 29 July. The Indian rupee traded between 74.218 and 74.500 today. On the other hand, the dollar index decreased again after experiencing a marginal rise yestearday. Accordingly, its value fell and settled at 92.03 as of 05:45 PM EDT Thursday.

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 0.59% at 5:50 PM on 29 July to trade at USD 72.82 per barrel globally. On the other hand, Brent Crude was set at USD 75.21 per barrel and traded at a rate of 0.63% higher.

USD/ INR- Gold Prices

Precious metal prices increased in India, they are highly volatile trying to regain their momentum. Accordingly, gold futures increased by 1.20% or 573.00 Rupees to settle at 48150.00 per 10 grams on the multi-commodity exchange. Conversely, Silver futures rose by 1280 Rupees or 20.03% to settle at Rs. 66274.00. 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 1817 per ounce in New York. On the other hand, Silver traded at USD 25.42 per ounce.

USD/ INR- Sensex Today

The BSE Sensex rose and ended in the green on 29 July after falling for three straight days. Accordingly, Sensex increased by 0.40% or 209.36 points. Thereby ending the session at 52653.07 at 4:10 PM IST Thursday. On the other hand, the NIFTY increased by 0.44% or 69.05 points and ended up at 15778.45.

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