USD/ INR: Rupee Further Strengthens Against the Dollar

USD/INR- The Rupee was at 74.61 as of 8:57 PM IST on 18 August. Also, the dollar index fell by 0.28% and was at 92.59. The strong domestic equities and the weaker dollar contributed to the rise in the value of the rupee against the US dollar.

USD/INR: Oil Prices Rise

Yesterday, the WTI futures fell by 0.54% and ended the day at USD 42.63 by 09:15 IST. On the other hand, Brent crude increased by 0.07% and was at USD 45.39. The Bank of America expects Brent prices to recover to about $60 per barrel because of the shrinking inventories and due to the slow stabilization of demand.

USD/ INR- Gold Prices on 18 August

Gold prices rose after falling for two straight days. The October gold futures rose by 1% to end at Rs. 53,800 per 10 grams on the multi-commodity exchange. In the international market, spot gold was back up over the $2000 mark, supported by a weak dollar. Likewise, Silver futures rose by 2% to Rs. 70,554 per kg.

A weak dollar supported gold prices in the international market. Also, the increase in tensions between US-China and the US issuing new restrictions on Huawei Technologies and Co contributed to the rise in the price of gold. It is the haven asset that investors go to amidst economic and political uncertainty.

USD/ INR- Sensex on 18 August

The Sensex ended in the green today for the second day in a row. That is, it was up by 1.26% on Tuesday and saw a 477.54 point increase. It ended at 38,528.32 at 3:40 PM IST. Similarly, the NIFTY saw a rise of 138.25 points or 1.23% and ended at 11,385.35. ONGC, Reliance Industries and ICICI were some of the top gainers today. On the other hand, Tata Steel, Axis Bank and the SBI were some of the top losers on 18 August.

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