USD/ INR: Indian Rupee Forex Report on 2 November

USD/INR- The Rupee was at 74.46 as of 10:10 PM IST on 2 November. The decrease in the value of rupee was mainly due to the strong US Dollar index and weak domestic equity market. The Rupee opened at 74.42 on Monday that is 31 paise lower than the previous close. On the other hand, the dollar index was at 93.97 yesterday at 9.07 PM EST.

USD/ INR: Oil Prices

The WTI futures fell by 0.24% and ended the day at USD 36.72 by 06:35 GMT. On the other hand, Brent futures also decreased by 0.44% and was at USD 38.80. The fall was attributed to the stable US Dollar. Further, the US elections are keeping the participants on edge. Also, the rise in coronavirus cases and the impending stimulus package is causing the fall. Moreover, oil prices are hugely affected by the imbalanced demand-supply ratio.

USD/ INR- Gold Prices

Gold prices started this week with some early gains on Monday. The gold prices rose by 56 Rupees on 2 November to end at Rs. 50.755 per 10 grams on the multi-commodity exchange. In the international market, spot gold traded at $1886.10 per ounce, that is 0.33% higher than the previous close.

Analysts assess that the fresh positions built up the participants led to the rise of gold prices. Concomitantly, Silver prices increased by 712 Rupees to settle at 61,577 per kg. Also, Silver traded 1.48% higher at USD 24.00 per ounce in the international market.

USD/ INR- Sensex on 2 November

The Sensex ended in the green on 2 November. Accordingly, it rose by 143.51 points or 0.36% and ended at 39,757.58 at 4:10 PM IST yesterday. Also, the NIFTY saw a rise of 26.75 points or 0.23% and finalised at 11,669.15. Nifty and Sensex portray a positive beginning for the Indian indices.

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