USD/ INR: Indian Rupee Forex Report on 3 November

USD/INR- Indian rupee settled at 74.41 as of 9:17 PM IST against US Dollar on 3 November. The rupee opened high at 74.34 on Tuesday. Yesterday, the rupee reached the highest of 74.25 and the lowest at 74.12. At the same time, the dollar index fell by 0.42% and was at 93.75. Despite the US Dollar being weak, the rupee struggled to find ground yesterday.

USD/ INR: Oil Prices

The US WTI crude slipped by 0.2% or 6 cents and settled at USD 36.75 per barrel at 10:50 PM GMT on 3 November. On the other hand, Brent Crude was trading at USD 38.82 per barrel as it traded 0.15 points or 0.4% lower yesterday. The oil prices continue to fluctuate based on the concerning COVID case surge and impending US elections. Also, analysts confirm that the oil market will remain volatile for the coming weeks. Further, Europe’s decision to tighten the COVID-19 restriction will flatten fuel demand.

USD/ INR- Gold Prices

Gold futures fell on 3 November. Accordingly, December gold futures decreased by 0.25% to Rs. 50,938 per 10 grams on the multi-commodity exchange. On the contrary, Silver futures decreased by 64 Rupees or 0.05% to settle at Rs. 61,973 per kg. Gold prices fell on the stable dollar and unending hopes for the US stimulus. In the international market, Gold was trading at USD 1/93.00 per ounce in New York. On the other hand, Silver traded at USD 24.16 per ounce. The Gold price fluctuates with the focus on US elections getting higher.

USD/ INR- Sensex Today

Sensex ended the day in the green on 3 November. Accordingly, it increased by 1.27% and saw a 503.55 point rise. Thereby ending the session at 40261.13 at 6:00 PM IST on Tuesday. Similarly, the NIFTY rose by 144.35 points and ended up at 11,813.50. The Sensex was able to shake off the IS Presidential Election edginess.

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