USD/ INR: Rupee Strengthens Against the US Dollar

USD/INR- Rupee value was at 73.68 as of 5:22 PM IST on 25th September. The day before, the rupee almost reached a one month low, but it bounced back yesterday. This was after a good run in the domestic equity market. During the session, the rupee reached the highest of 73.56 and lowest at 73.77. The dollar index also rose by 0.01% and was at 94.36.

USD/ INR: Oil Prices

The US WTI crude futures fell by only 3 cents and was at USD 40.34 per barrel on 25th September at 01:13 GMT. On the other hand, Brent Crude futures decreased by 2 cents and was at USD 41.92 per barrel. Because of the rising cases around the world, a lot of restrictions are in place. In the US, the demand for fuel is low as travel hasn’t resumed to the fullest, and the same scenario follows in most countries around the world. Therefore, the oil market has a bearish outlook.

USD/ INR- Gold Prices

Gold, as well as silver prices, continued their decrease in prices. Accordingly, October gold futures decreased by 0.27% to Rs. 49,771 per 10 grams on the multi-commodity exchange. Likewise, Silver futures fell by 0.5% to Rs. 59,329 per kg. In the global market, spot gold fell by 0.2% and traded at USD 1,864.47. An increase in the dollar value makes gold expensive for people who hold other currencies. The gold market has also been affected by the prevailing US-China tensions, uncertainty over the appointment of the new Supreme Court judge in the US and also tensions over Brexit. This has led to investors regarding the US Dollar as the haven asset over gold, thereby resulting in a fall in prices.

USD/ INR- Sensex Today

The Sensex ended in positive after ended in losses for the whole week. That is, it rose by 2.28% and saw an 835.06 point increase. Accordingly, it ended at 37,388.66 at 3:40 PM IST on 25th September. Also, the NIFTY saw a rise of 2.26% or 244.70 points and ended up at 11,050.25. Even though they performed well, due to low-level buying supported by positive cues from the global market, they are said to report massive weekly losses.

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