USD/ INR: Rupee Further Strengthens Against US Dollar

USD/INR- The Rupee was at 74.25 as of 09:40 PM IST on 26th August. Rupee saw an intra-day high of 74.25 and a low of 74.46. Favourable domestic equity market and the excellent inflow of fund from foreign investors resulted in the rupee gaining against the US Dollar on Wednesday as well.

USD/ INR: Oil Prices Today

The WTI futures rose by 2.5% and ended the day at USD 42.61 by 15:02 GMT. On the other hand, Brent crude increased by 2.1% and was at USD 45.44. Oil prices were linked to a fall in US inventories earlier this week. Further, oil consumption is still low, especially in major economies like India, and that poses a worry. Investors will also be looking at the result of the stalemate that is currently going on in the US Parliament regarding stimulus.

USD/ INR- Gold Prices on 26 August

Gold prices rose again after falling for five successive days. The October gold futures rose by 0.4% to end at Rs. 51,139 per 10 grams on the multi-commodity exchange. In the international market, spot gold fell traded at $1,927.26 per ounce. Likewise, Silver futures rose by 0.6% to Rs. 64,379 per kg.

Gold prices continue to be volatile as the positive news about the vaccine for coronavirus has made investors move to some high-risk assets, away from the haven asset- gold. Further, China and the US renewed its commitment to the Phase 1 trade deal, and that also had a positive footprint on the financial markets today.

USD/ INR- Sensex on 26 August

The Sensex ended in green for the third day in a row this week. That is, it was up by 0.59% today and saw a 230.04 point increase. Accordingly, it ended at 39,073.92 at 3:40 PM IST today. Also, the NIFTY saw a rise of 77.35 points or 0.67% and finalised at 11,549.60.

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