USD/ INR: Rupee Edges Lower Against the Dollar

USD/INR- Indian Rupee was at 73.34 as of 07:44 PM IST on 3rd September. The Indian Rupee edged lower and opened 18 paise down at 73.21. The main reason for this is the strengthening dollar index. Rupee saw gains in the past few sessions despite the harmful macroeconomic data released recently.

USD/ INR: Oil Prices

The WTI futures rose by 0.10% and were at USD 41.55 a barrel by 06:26 GMT. On the other hand, Brent futures for November fell by 0.02% and was at USD 44.42 per barrel. Oil prices were volatile and edged lower because of the concerns of falling demand for gasoline in the US. Also, the less than expected recovery in the global economy from the pandemic induced pessimistic sentiments among producers.

USD/ INR- Gold Prices

Gold prices recorded a fall on Thursday as well. The October gold futures decreased by 0.1% to Rs. 50,771 per 10 grams on the multi-commodity exchange. However, Silver futures rose by 0.05% to 68,287 per kg. In the international market, spot gold traded at $1,944.58 per ounce, indicating an increase of 0.1%.

The dollar index rose to 92.852, thus making gold costlier for holders of other currencies. The ongoing activity in the domestic and global equity markets show an increased risk appetite among investors. But, the increasing number of cases along with the tensions between the US and China might help the gold prices.

USD/ INR- Sensex on 3rd September

The Sensex ended in red after finishing on a positive note in the last few days. That is, it was down by 0.24% on Thursday and saw a 95.09 point decrease. Accordingly, it ended at 38,990.98 at 3:40 PM IST on 3 September. Also, the NIFTY saw a decline of 7.75 points or 0.065% and finalised at 11,527.45. Only 13 of the 30 Sensex stocks ended in the green on 3 September. Titan was the most significant index gainer whereas ICICI bank was the worst performer in the index.

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