USD/ INR: Rupee Stabilises Against the US Dollar

USD/INR- The Rupee was at 73.05 as of 09:46 PM IST on 1st September. The increase in the value of rupee was mainly due to some gains in the domestic equity market and a weaker dollar. The GDP numbers released yesterday and India-China border woes kept the currency volatile.

USD/ INR: Oil Prices

The WTI futures rose by 1% and ended the day at USD 43.04 by 06:35 GMT. On the other hand, Brent futures for November increased by 1% and was at USD 47.75. The weaker dollar helped the oil prices gain on Tuesday. Usually, a weaker dollar makes commodities that are priced in the dollar more lucrative to buyers. The excellent manufacturing data from China also helped the oil prices rise.

USD/ INR- Gold Prices

Gold prices fell after having some early gains on Tuesday. The October gold futures fell by 0.33% from their previous close to end at Rs. 51,530 per 10 grams on the multi-commodity exchange. In the international market, spot gold traded at $1,978.20 per ounce. It had reached the 2000 dollar mark earlier in the day.

Gold prices were still supported by the weak US Dollar and the increasing
number of coronavirus cases around the world. But, the consumer demand for the metal remained low in the country, but it might recover in the upcoming festival season. 

USD/ INR- Sensex on 1 September

The Sensex was back in green on Tuesday after an 800 point fall on Monday. That is, it was up by 0.71% on Tuesday and saw a 272.51 point increase. Accordingly, it ended at 38,900.80 at 3:40 PM IST on 1st September. Also, the NIFTY saw a rise of 82.75 points or 0.73% and finalised at 11,470.25. Bharti Airtel was one of the major gainers in the Sensex after the release of Supreme Court judgement regarding the AGR case. ONGC, Tech Mahindra, Infosys and Axis Bank were the top losers today.

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