USD/ INR: Indian Rupee Stabilises Against Dollar

USD/INR- Rupee value was at 72.985 as of 10:05 PM IST against US Dollar on Friday. On October 9, the rupee reached the highest of 73.300 and the lowest at 72.981. At the same time, the dollar index dropped by 0.59% and was at 93.093. On the other hand, the RBI assures to support debt purchases as the inflation barricades rate cuts.

USD/ INR: Oil Prices

The US WTI crude decreased by 0.17% that is 0.08 points at 10:07 PM and settled at USD 41.11 per barrel on 9 October. Contrarily, the Brent Crude increased by 0.05% and was at USD 43.36 per barrel at 10:20 PM. The oil prices turned slightly positive following the US House members assurance regarding the coronavirus federal aid. On the other hand, the worsening demand for oil due to the rising COVID-19 cases might push OPEC to reverse easing of oil cuts in the following year.

USD/ INR- Gold Prices

Gold futures saw a gain first time in the week. Accordingly, December gold futures increased by 1.28% or 641.00 points to Rs. 50,816 per 10 grams on the multi-commodity exchange. Similarly, on 9 October Silver futures rose by 2420 Rupees or 4.0% to Rs. 62,939 per kg. Subsequently, in the international market, gold traded at USD 1910 per ounce, and silver was trading at USD 24.45 per ounce. Despite being a safe haven to investors during the economic crisis, gold struggled to find ground the past week. Finally, on Friday, Gold and silver prices saw a spike.

USD/ INR- Sensex on 9 October

Sensex ends the day on a positive note on 9 October. Accordingly, it rose by 0.81% and saw a 326.82 point increase. Thereby ending the session at 40509.49 at 6:00 PM IST on 9 October. Similarly, the NIFTY rose by 0.67% or 79.60 points and ended the day at 11914.20. ICICI Bank, SBI, Wipro, and HDFC Bank were among the top gainers on Friday.

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