USD/INR- Indian rupee was at 73.342 as of 10:12 PM IST against US Dollar on 7 October. The rupee rebounded yesterday as the Reserve bank of India began its three days policy meeting on monetary Policy. On Wednesday, the rupee reached the highest of 73.600 and the lowest at 73.263. Concomitantly, the dollar index dropped by 0.08% and was at 93.61.
USD/ INR: Oil Prices
The US WTI crude fell by 3.37% and settled at USD 39.30 per barrel at 10:22 PM GMT on 7 October. Similarly, on the other hand, Brent Crude decreased by 2.71% and was at USD 41.48 per barrel. Oil prices fall as US stimulus package impasse and stockpiles rise. Further, the US president halting the talks regarding the fourth stimulus package that will aid the COVID hit economy had a destructive impact on the oil prices. Also, the imbalanced supply and demand ratio is affecting oil prices.
USD/ INR- Gold Prices
Gold futures fell again for the third time this week. Accordingly, December gold futures decreased by 0.91% or 461.00 points to Rs. 50,065 per 10 grams on the multi-commodity exchange. Similarly, on 7 October Silver futures fell by 546 Rupees to Rs. 60,025 per kg. This fall is attributed to the lower demand. Subsequently, in the international market, gold traded at USD 1892 per ounce, and silver was trading at USD 23.73 per ounce. Gold prices are still volatile in the domestic and the global market despite the favourable domestic equities and foreign inflow.
USD/ INR- Sensex on 6 October
Sensex ended the day in green on 7 October. Accordingly, it rose by 0.77% and saw a 304.38 point increase. It was thereby ending the session at 39878.95 at 6:00 PM IST on 7 October. Similarly, the NIFTY rose by 0.66% or 76.45 points and ended up at 11,738.85.