USD/ INR: Rupee Settles Higher Against the US Dollar

USD/INR- Rupee value was at 73.44 as of 8:54 PM IST on 14th September. Further, the rupee saw an intra-day high of 73.26 and low of 73.70 against the US Dollar. The domestic equity market remained muted on Monday as well, and the dollar index fell by 0.30% to 93.30.

USD/ INR: Oil Prices

The WTI futures fell by 0.48% and was trading at USD 37.15 per barrel yesterday. On the other hand, Brent futures for November decreased by 0.55% and was at USD 39.61 per barrel. The crude oil futures fell because of low expectations of demand due to the rising number of coronavirus cases all over the world. The oil industry will be relieved only if the virus is controlled, and economies open up to a considerable extent.

USD/ INR- Gold Prices

Gold prices further rose on 14th September. Accordingly, October gold futures increased by 0.35% to Rs. 51,498 per 10 grams on the multi-commodity exchange. Similarly, Silver futures rose by 0.37% to 68,180 per kg. In the international market, spot gold traded at $1,941.11 per ounce, therefore remaining stable. The gold price rise was mainly because of the upcoming US Federal policy meet. Also, the record surge in the coronavirus cases all over the world increased the haven appeal for gold. Usually, gold is seen as a safe investment at times of economic uncertainty.

USD/ INR- Sensex Today

The Sensex started the week in the red. That is, it was up by 0.037% and saw a 97.92 point decrease. Accordingly, it ended at 38,756.63 at 3:40 PM IST on 14th September. Similarly, the NIFTY saw a fall of 24.40 points or 0.21% and ended up at 11,440.05. The lagging in the banking and financial stocks was the primary cause for the massive fall in the Sensex yesterday.

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