USD/ INR: Rupee Strengthens Against the Dollar

USD/INR- Rupee value was at 73.58 as of 10:01 PM IST on 21st September. During the session, the rupee witnessed the highest of 73.26 and the lowest at 73.50. The strengthening of Indian rupee against the Dollar was despite the massive losses incurred in the domestic equity market. Further, the dollar index rose 0.29% to 93.19.

USD/ INR: Oil Prices

The WTI futures fell by 0.7% and was trading at USD 40.84 per barrel on 21st September. On the other hand, Brent futures for November decreased by 0.5% was at USD 42.95 per barrel. The increase in the number of coronavirus infections has led to governments around the world increasing restrictions. Therefore, it significantly impacted the prices of oil as it slowed down the economy opening up.

USD/ INR- Gold Prices

Gold prices decreased on 21st September. Accordingly, October gold futures decreased by 2.7% to Rs. 50,300 per 10 grams on the multi-commodity exchange. Likewise, Silver futures fell by 9% to 61,802 per kg. In the international market, spot gold fell below $1,900 per ounce, the lowest it has been in weeks. The strengthening US Dollar decreased the demand for commodities like gold. Further, the traders in India are hoping for the market to increase as the festive season nears. So far, the domestic demand for gold has been a very week.

USD/ INR- Sensex Today

The Sensex started the week with a massive drop on 21st September. That is, it was down by 2.09% and saw an 811.68 point decrease. Accordingly, it ended at 38,034.14 at 3:40 PM IST on 21st September. Also, the NIFTY saw a fall of 2.21% or 254.40 points and ended up at 11,250.55. The surge in the number of virus infections dampened investor sentiments. Along with the sell-off in the global market, it led to massive losses for investors today.

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