USD/ INR: Indian Rupee Forex Report on 6 November

USD/INR- Indian rupee settled at 74.1950 as of 2:01 PM IST against US Dollar on 6 November. The rupee strengthens against the US currency avoiding the US election jitters. On Friday, the rupee reached an intraday- high of 74.2400 and the lowest at 73.8725. At the same time, the dollar index decreased by 0.31% or 0.29 points and settled at 92.24 as of 05:56 PM EST. 

The Republican President has won 214 votes while Joe Biden has managed to win 264 votes. Thereby, on the cusp of victory.

USD/ INR: Oil Prices

The US WTI crude decreased by 3.43% or 1.33 points and settled at USD 37.46 per barrel at 3:30 PM GMT on 5 November. Concomitantly, Brent Crude was trading at USD 39.70 per barrel as it traded 3.01% or 1.23 points lower yesterday. US oil prices fall amid the surge in contagious coronavirus cases and the presidential voting. However, with Joe Biden taking the lead in the US elections, the oil endured several challenges and ended the volatile week. Oil prices continue to drop as coronavirus cases rise around the world.

USD/ INR- Gold Prices

Gold futures increased on 6 November. Accordingly, December gold futures rose by 0.19% to Rs. 52,154.0 per 10 grams on the multi-commodity exchange. Similarly, Silver futures increased by 1.67% to settle at Rs. 65,325 per kg. Gold prices continue to rise holding festive season as its backbone. In the international market, Gold was trading at USD 1912.00 per ounce in New York. On the other hand, Silver traded at USD 23.57 per ounce.

USD/ INR- Sensex Today

Sensex ended the week positively by trading in the green on 6 November. Accordingly, it increased by 1.34% or 552.90 points. Thereby ending the session at 41,893.06 at 6:00 PM IST on Friday. Similarly, the NIFTY increased by 143.25 points or 1.18% and ended up at 12,263.55.

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