USD/ INR: Rupee Settles Low Against US Dollar

USD/INR- Indian rupee was at 73.406 as of 09:01 PM IST against US Dollar on 6 October. The rupee continues to trade in the range of 73 in October. Yesterday, the rupee reached the highest of 73.515 and the lowest at 73.093. Concomitantly, the dollar index rose by 0.17% and was at 93.85. 

USD/ INR: Oil Prices

The US WTI crude rose and settled at USD 40.26 per barrel at 10:47 PM GMT on 6 October. On the other hand, Brent Crude increased and was at USD 41.40 per barrel. Oil production continued in the same manner last week in the US, and it currently is at 10.7 million BPD. The WTI crude rose over USD 40 based on the hopes for a stimulus package, however, the favourable announcement of which is uncertain. Having said that, signs of exhaustion will have the opportunity to short both the brent and crude markets. Furthermore, oil is still weighed down by a lot of uncertainties, including the lack of demand, rising number of cases and the increase in supply. 

USD/ INR- Gold Prices

Gold futures continue its fall this week. Accordingly, December gold futures decreased by 0.32% to Rs. 50,465 per 10 grams on the multi-commodity exchange. Similarly, Silver futures fell by 2.34% to Rs. 60,490 per kg. Gold prices are still volatile in the domestic and the global market. The volatility is highly influenced by the stimulus package expectation, the US Dollar, Brexit uncertainty, the rising COVID-19 cases and an expectation of a vaccine for the coronavirus. 

USD/ INR- Sensex on 6 October

Sensex ended the day in green on 6 October. Accordingly, it rose by 1.54% and saw a 600.87 point increase. It was thereby ending the session at 39574.57 at 4:00 PM IST on 6 October. Similarly, the NIFTY rose by 1.38% or 159.05 points and ended up at 11,662.40.

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