USD/INR- Indian Rupee was at 73.30 as of 08:43 PM IST on 4th September. The increase in the value of the Indian Rupee comes as a surprise as the domestic equity market traded in the loss. Likewise, the dollar index also gained by 0.03% and was at 92.77.
USD/ INR: Oil Prices
The WTI futures fell by 0.5% and was at USD 41.17 a barrel by 00:34 GMT. On the other hand, Brent futures for November fell by 0.4% and was at USD 48.88 per barrel. China’s steady demand for crude oil is also set to slow down after increasing for five straight months. Additionally, producers are also worried about the falling demand for gasoline in the US and slow economic recovery all around the world.
USD/ INR- Gold Prices
Gold prices rise after recording a fall for three consecutive days. The October gold futures increased by 0.3% to Rs. 50,911 per 10 grams on the multi-commodity exchange. Likewise, Silver futures fell by 0.3% to 67,080 per kg. In the international market, spot gold traded at $1,937.84 per ounce, indicating an increase of 0.4%.
The global gold prices increased because of the weak global equity market. Also, the surging cases show case glod as safe assest for investors. But the increase in the dollar index capped the gains on gold.
USD/ INR- Sensex on 3rd September
The Sensex plunged for the second straight day this week. That is, it was down by 1.63% on Friday and saw a 633.76 point decrease. Accordingly, it ended at 38,357.18 at 3:40 PM IST on 4th September. Similarly, the NIFTY saw a decline of 193.60 points or 1.68% and finalised at 11,333.85. In addition to that, the broader markets also incurred losses yesterday. The border tensions between India and China, along with the overall weak performance of the global equity market led to the massive fall on Friday.