USD/ INR: Rupee Opens Higher Against the US Dollar

USD/INR- Rupee value was at 73.77 as of 5:34 PM IST on 29th September. The rupee opened higher against the dollar because of a good performance in domestic equities. But in the later sessions, it fell due to dollar buying probably related to oil. But, the positive domestic, as well as global equities, will indeed help the rupee stay higher.

USD/ INR: Oil Prices

The US WTI crude futures fell by 0.4% and was at USD 40.43 per barrel on 29th September at 01:20 GMT. On the other hand, Brent Crude futures decreased by 0.4% and was at USD 42.26 per barrel. The commodities market fared well after the Democrats introduced the new stimulus bill in the US Parliament. But the oil was still held down by the increasing number of coronavirus cases and uncertainty over the recovery of demand to the pre-crisis levels.

USD/ INR- Gold Prices

The gold and silver futures gained a bit on Tuesday. Accordingly, gold futures increased by 0.1% to Rs. 50,190 per 10 grams on the multi-commodity exchange. Likewise, Silver futures rose by 0.5% to Rs. 60,730 per kg. In the global market, gold remained increased by 0.15% and traded at around USD 1,883.69. A weaker US Dollar supported gold prices on 29 September. The gold prices saw a great decline last week amidst widespread sell-off because of the strong dollar. But, the gold prices might gradually increase again due to the overall economic uncertainty that is prevailing now.

USD/ INR- Sensex on 29 September

The Sensex marginally declined after beginning the week on a positive note. That is, it fell by 0.022% and saw an 8.41 point decrease. Accordingly, it ended at 37,973.22 at 3:40 PM IST on 29th September. Similarly, the NIFTY fell 0.046% or 5.15 points and ended up at 11,222.40.

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