USD/ INR: Indian Rupee Forex Report on 5 November

USD/INR- Indian rupee settled at 74.044 as of 9:25 PM IST against US Dollar on 5 November. The rupee stabilises avoiding the US election jitters. Yesterday, the rupee reached an intra- high of 74.055 and the lowest at 74.323. At the same time, the dollar index increased by 0.13% and was at 92.64 as of 09:17 PM EDT. 

The stock markets rose on account of Joe Biden incline towards victory. Also, the hopes rise as Bank of England is on the verge to announce a stimulus package that favours the stock market. On the other hand, Trump is set to take legal actions that will aid him to win the US elections.

USD/ INR: Oil Prices

The US WTI crude fell by 0.8% and settled at USD 38.47 per barrel at 10:50 PM GMT on 5 November. On the other hand, Brent Crude was trading at USD 40.20 per barrel as it traded 0.68% lower yesterday. US oil prices fall amid the surge in contagious coronavirus cases and the presidential voting. Italy noted its highest number of infections on Thursday, while the US crosses 100000 new cases per day mark. In all, the pandemic will have an everlasting effect on the participants and thereby on the market.

USD/ INR- Gold Prices

Gold futures increased on 5 November. Accordingly, December gold futures increased by 0.76% to Rs. 51,204 per 10 grams on the multi-commodity exchange. Similarly, Silver futures increased by 1.03% to settle at Rs. 62,019 per kg. Gold prices continue to rise amid rupee depreciation. In the international market, Gold was trading at USD 1904.66 per ounce in New York. On the other hand, Silver traded at USD 23.98 per ounce.

USD/ INR- Sensex Today

Sensex ended the day in the green on 5 November. Accordingly, it increased by 1.78% or 724.02 points. Thereby ending the session at 41340.16 at 4:05 PM IST on Thursday. Similarly, the NIFTY rose by 211.80 points and ended up at 12,120.30.

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