USD/ INR: Rupee Value Increases Against the US Dollar

USD/INR- Rupee value was at 74.88 as of 07:36 PM IST on 10th August. It recorded the highest of 74.85 and the lowest at 74.96. On Friday, the rupee finally settled at 74.93. Today, it opened a bit weak against the dollar at 74.96 but was supported by foreign fund inflows and positive domestic equities. The dollar index also increased by 0.19% and reached 93.59.

USD/ INR- Oil Prices Rise

The WTI Crude rose by 49 cents and was at USD 41.71 per barrel by 00:10 GMT. On the other hand, Brent futures were up by 40 cents and was at USD 44.80 per barrel. With the Asian economies slowly reopening, and the talks resuming in the US parliament regarding the stimulus, oil prices rose among the COVID19 pandemic. Further, Iraq cut its output by 400,000 barrels, thereby also helping the increase in prices.

USD/ INR- Gold Prices Rise

Gold prices further continued to increase today after a sharp fall in the first session. Accordingly, the October gold futures increased by 0.46% and hit a high of Rs. 55,040 per 10 grams on the multi-commodity exchange. Similarly, in the international market, spot gold traded at USD 2,033.40 per ounce. Also, Silver futures gained by 1.43% and moved to Rs. 75,220 per kg. The weaker dollar, an increasing number of cases, US-China tensions and other economic instabilities around the world, has made gold a safe investment for investors. Therefore, gold prices are said to hold good.

USD/ INR- Sensex Today

The Indian equity market fell by 0.37% on 10th August. Accordingly, there was a 141.51 point increase in the Sensex, and it was at 38,182.08 by 3:40 PM IST. Similarly, Nifty saw a rise of 0.50% and settled at 11,270.15 after a 56.10 point increase. The gains today were led by pharma stocks and all sectoral indices ended in the green today.

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