The rupee value further appreciated against the US Dollar today for the third consecutive day. It saw an increase of 15 paise and ended the day at 74.59 against the greenback. The rise in risk appetite among investors and the overall favourable Asian currencies have helped the Rupee. Also, hopes of a COVID-19 vaccine positively impacted the Rupee. Yesterday, the value of the Rupee was 74.74. The Rupee reached the highest of 74.87 and the lowest at 74.57 today.
USD/ INR- Oil Prices Fall Because of Virus Fears
The US inventories have grown more than expected. However, concomitantly rising COVID-19 cases have caused significant unrest among the producers. Today, the Brent futures decreased by 0.9% and ended the day at USD 43.93 by 08:37 GMT. On the other hand, WTI crude also reduced by 1.1% and was at USD 41.44.
USD/ INR- Gold Prices Reach Rs. 50,000 for the First time
The increasing number of coronavirus cases still made gold a lucrative metal among investors. On the multi-commodity exchange, the August gold futures rose by 1% to end at Rs. 50,010 per 10 grams. In the international market, spot gold saw an increase of 1.3% and ended at USD 1,865.81 per ounce. The expectation of stimulus and hopes of a restart of economy activity boosted gold prices.
USD/ INR- Sensex Today
The Indian equity market ended the day in red for the first time in five days. There was a 58.51 points decrease in the Sensex, and it ended the day at 37,871.52. While Nifty also saw a loss of 29.65 points and settled at 11,132.60. The top losers were auto and IT stocks whereas energy, metal and pharma shares performed well.