USD/ INR: Rupee Edges Lower Against the US Dollar

USD/INR- Indian rupee was at 73.11 as of 10:01 PM IST against US Dollar on 5 October. The rupee edged lower despite the significant gains in the domestic equity market. On Monday, the rupee reached the highest of 73.08 and the lowest at 73.41. Further, the dollar index fell by 0.17% and was at 93.68.

USD/ INR: Oil Prices

The US WTI crude rose by 5.25% and was at USD 38.96 per barrel at 1:37 PM GMT on 5 October. On the other hand, Brent Crude increased by 4.6% and was at USD 41.08 per barrel. Oil prices recovered after the doctors in the US said that Trump would be discharged soon. Further, the closure of six offshore oil and gas fields due to worker strikes in Norway also helped the oil prices. But, oil is still weighed down by a lot of uncertainties including the lack of demand, rising number of cases and the increase in supply.

USD/ INR- Gold Prices

Gold futures further fell on Monday. Accordingly, December gold futures decreased by 0.9% to Rs. 50,130 per 10 grams on the multi-commodity exchange. Similarly, Silver futures fell by 0.88% to Rs. 60,605 per kg. In the global market, gold futures fell by 0.1% and traded at around USD 1,906.30. Gold prices remain volatile in the domestic and the global market. It is being influenced by varied factors like the expectation of further stimulus, the US Dollar, uncertainty over Brexit, the rising COVID-19 cases and an expectation of a vaccine for the coronavirus.

USD/ INR- Sensex on 5th October

Sensex started the week with gains. That is, it rose by 0.71% and saw a 276.65 point increase. Accordingly, it ended at 38,973.70 at 3:40 PM IST on 5th October. Similarly, the NIFTY rose by 0.76% or 86.40 points and ended up at 11,503.35.

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