USD/ INR: Indian Rupee Slips Against US Dollar

USD/INR- Indian rupee was at 73.450 as of 10:40 PM IST against US Dollar on 20 October. On Monday, the rupee reached the highest of 73.452 and the lowest at 73.351. Further, the dollar index rose by 0.02% and was at 93.48. The US stimulus package, uncertainty over Brexit, and the COVID-19 cases continue to hold the market participants on edge.

USD/ INR: Oil Prices

The US WTI crude fell by 0.7% or 0.23 points and was at USD 41.47 per barrel on 20 October. On the other hand, Brent Crude also decreased by 0.5% or 0.22 points and was at USD 42.94 per barrel. The demand concern rises among the investors following the COVID-19 second wave in the US and Europe. Further, the increase in stockpiles rises abundant global supply concerns. The demand-supply imbalance will have an everlasting impact on oil prices.

USD/ INR- Gold Prices

Gold futures started this week on a positive note and continues the momentum by gaining again on Tuesday. Accordingly, December gold futures increased on Tuesday and settled at Rs. 51,585 per 10 grams on the multi-commodity exchange. Similarly, Silver futures rose by 1.00% to Rs. 63,000 per kg. In the global market, gold futures traded at around USD 1,903.20. At the same time, Silver traded 1.39% higher at USD 24.84 per ounce. The metals are starting to gain their momentum as the festive season begins in India. Also, they are waiting for new triggers from the US stimulus talk that keeps them afloat amid Dollar fluctuations.

USD/ INR- Sensex on 20th October

Sensex ended the day in the green. That is, Sensex rose by 0.28% and saw a 112.77 point increase. Accordingly, it ended at 40,544.37 at 4:10 PM IST on 20 October. Similarly, the NIFTY rose by 0.20% or 23.75 points and ended up at 11,896.80. Bharti Infratel, Vodafone Idea, HCL Tech, and Zee Entertainment were among the top gainers on 20 October.

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