USD/INR- Rupee value was at 74.76 as of 6:53 PM IST today. It recorded the highest of 74.67 and the lowest at 74.90, despite opening 19 paise lower at 74.94 today. This marginal increase in the rupee value can be attributed to the weak dollar index and good inflow of foreign funds.
USD/ INR- Oil Prices Slip
Today, the Brent futures fell by 20 cents and ended the day at USD 43.14 by 10:00 GMT. On the other hand, WTI crude also reduced by 14 cents and was at USD 41.15. The oil demand recovered in the past couple of weeks. But, the demand has not been favourable from Asian countries except for China. Also, the rising tensions between the US and China and the surging cases in Asia have left the oil market volatile. The storm Hanna that affected the Texas coast might also affect oil prices in the coming days. And, investors are keeping their eyes open for the same.
USD/ INR- Gold Prices Surge
Gold prices further increased for the second week in a row. On the multi-commodity exchange, the August gold futures rose by 2% to end at Rs. 52,127 per 10 grams. In the international market, spot gold traded at USD 1,928,40 per ounce, the highest since September 2011. The rising US-Sino tensions and the expectation of further stimulus have made gold the safe bet in the currently volatile global market.
Silver futures gained by 5.5% to Rs. 64,999 per kg after a decrease in value last week.
USD/ INR- Sensex Today
The Indian equity market went down by 0.51% today. Accordingly, there was a 194.17 points drop in the Sensex, and it was at 37,934.73 by 3:40 PM IST. Similarly, Nifty also saw a decrease of 0.56% and settled at 11,131.80. ICICI Bank, HDFC and other bank stocks were the top losers today.