USD/ INR: Rupee Edges Lower Against the US Dollar

USD/INR- Rupee value was at 73.74 as of 6:03 PM IST on 28th September. The rupee did gain after a good performance in the domestic equity market. But, the gains were capped after an increase in the dollar index. The future of the rupee will largely depend on the fiscal deficit to be announced later this week. The larger the debt, the lower the rupee will fare against the US dollar.

USD/ INR: Oil Prices

The US WTI crude fell by 0.3% and was at USD 40.13 per barrel on 28th September at 00:33 GMT. On the other hand, Brent Crude futures decreased by 0.2% and was at USD 41.84 per barrel. The rising coronavirus cases raised questions about the recovery of fuel demand. Therefore, it impacted the prices as well. Apart from this, more crude is being exported from Libya and Iran, which will also cause prices to fall.

USD/ INR- Gold Prices

The gold and silver prices continue their fall in price from the previous week. Accordingly, gold futures decreased by 0.4% to Rs. 49,460 per 10 grams on the multi-commodity exchange. Likewise, Silver futures fell by 1% to Rs. 58,473 per kg. In the global market, gold remained stable at around USD 1,860.19. Gold traders are keenly awaiting the US Presidential debate between Joe Biden and Donald Trump scheduled for Tuesday. In recent days, gold has come under pressure as the US Dollar strengthened and was considered as the go-to haven currency.

USD/ INR- Sensex Today

The Sensex started the week in green. That is, it rose by 1.59% and saw a 592.97 point increase. Accordingly, it ended at 37,981.63 at 3:40 PM IST on 28th September. Also, the NIFTY saw a rise of 1.60% or 177.30 points and ended up at 11,227.55. The bank stocks performed well today. Further, overall good performance in the Asian stock market also helped the domestic sentiment.

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