USD/ INR: Rupee Marginally Strengthens Against Dollar

USD/INR- The Rupee was at 73.16 as of 09:14 PM IST on 28th August. The rupee gained after the RBI governor Shaktikanta Das said that the government had not exhausted ammunition to deal with the current situation. Good flow of foreign inflow funds and the favourable domestic equity market also helped the rupee.

USD/ INR: Oil Prices

The WTI futures fell by 0.4% and ended the day at USD 42.85 by 00:14 GMT. On the other hand, Brent crude fell by 0.2% and was at USD 45.00. The Hurricane Laura caused a lot of destruction, but oil refineries were spared and therefore didn’t have much of an impact on prices.

USD/ INR- Gold Prices on 28th August

Gold prices rose on Friday. The October gold futures rose by 0.6% to end at Rs. 51,208 per 10 grams on the multi-commodity exchange. In the international market, spot gold fell traded at $1,929.94 per ounce. Similarly, Silver saw gains on Friday and accordingly Silver futures rose by 0.7% to Rs. 65,673 per kg.

A lot of Americans are still filing for unemployment benefits, and the impact of coronavirus worldwide has caused severe economic devastation. Further, the cases of the virus are also increasing rapidly in countries like India and the US. Therefore, the safe-haven appeal of gold has been increased. Gold prices have also been supported by stimulus measures by the central banks around the world.

USD/ INR- Sensex on 28th August

The Sensex ended in green for the fifth day in a row this week. That is, it was up by 0.90% on Friday and saw a 353.84 point increase. Accordingly, it ended at 39,467.31 at 3:40 PM IST on 28th August. Also, the NIFTY saw a rise of 88.35 points or 0.76% and finalised at 11,647.60. Banking shares led the way on Friday.

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