USD/ INR: Rupee Weakens Against the Dollar

USD/INR- The Rupee was at 74.83 as of 6:44 PM IST on 19th August. The rupee saw an intra-day high of 74.67 and a low of 74.93. Also, the dollar index fell by 0.04% and was at 92.23. Despite having some early gains and favourable domestic equity market, the rupee weakened.

USD/INR: Oil Prices Drop

Yesterday, the WTI futures fell by 0.6% and ended the day at USD 42.64 by 00:29 GMT. On the other hand, Brent crude decreased by 0.8% and was at USD 45.08. The concerns of demand still weigh heavily on oil prices. But on a positive note, the US inventories have decreased. Further, investors are waiting for the news from the recent OPEC meeting with allies, including Russia and their decision on output cuts. Also, oil prices are affected by the growing pandemic.

USD/ INR- Gold Prices on 19 August

Gold prices fell on 19 August after an increase on 18 August. The October gold futures fell by 0.9% to end at Rs. 53,110 per 10 grams on the multi-commodity exchange. In the international market, spot gold was up by 0.1% and was at $2,002.12. Likewise, Silver futures fell by 2.5% to Rs. 67,864 per kg.

The gains in gold were capped yesterday because of a well-performing global equity market. Investors are looking forward to the minutes of the Federal Bank meeting to know more about the interest rates, and it’ll have a considerable impact on gold prices. The indecisiveness in Washington DC among the Republicans and Democrats regarding the stimulus package also weighed heavy on gold prices.

USD/ INR- Sensex on 19 August

The Sensex ended in the green today for the third day in a row. That is, it was up by 0.22% today and saw an 86.47 point increase. It ended at 38,614.79 at 3:40 PM IST. Similarly, the NIFTY saw a rise of 23.05 points or 0.20% and ended at 11,408.40.

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