USD/ INR: Rupee Marginally Weakens Against Dollar

USD/INR- The Rupee was at 73.35 as of 06:34 PM IST on 31st August. The rupee saw an intra-day high of 73.25 and a low of 73.80 against the greenback. The increasing tensions between India and China weighed heavily on the rupee. Further, the recent macroeconomic data also showed a long road to recovery for the Indian economy, and it put pressure on the Indian Rupee.

USD/ INR: Oil Prices

The WTI futures rose by 0.3% and ended the day at USD 43.11 by 00:38 GMT. On the other hand, Brent futures for November increased by 0.6% and was at USD 46.08. Global stimulus measures helped oil prices even though the demand hasn’t recovered. Further, Brent has had a fifth consecutive monthly gain whereas WTI saw a 4th straight monthly gain.

USD/ INR- Gold Prices on 31st August

Gold prices increased on Monday. The October gold futures rose by 0.1% to end at Rs. 51,504 per 10 grams on the multi-commodity exchange. In the international market, spot gold rose by 0.4% and traded at $1,971.68 per ounce. Similarly, Silver also saw gains and accordingly, Silver futures rose by 0.4% to Rs. 69,135 per kg.

Gold was supported by the Federal Bank’s new policy indicating that the interest rates will remain low for a while. Further, the weak US Dollar also helped gold. The dealers in India gave massive discounts on gold last week as even the fall in prices did not induce demand for the metal.

USD/ INR- Sensex on 31st August

The Sensex fell after ending the previous week in green. That is, it was down by 2.13% on Monday and saw an 839.02 point decrease. Accordingly, it ended at 38,628.29 at 3:40 PM IST on 31st August. Also, the NIFTY saw a fall of 260.10 points or 2.23% and finalised at 11,387.50. Analysts say that the steep fall might also be due to the border stand-off at Ladakh between India and China.

Leave a Reply

Get Verified Suppliers of Rice, Wheat, Dry Fruits, Pulses and Other Grains