USD/ INR: Rupee Weakens Against the Dollar

USD/INR- Rupee value was at 73.65 as of 11:58 PM IST on 23rd September. During the session, the rupee witnessed the highest of 73.49 and the lowest at 73.63. The gains in the rupee were muted after a lousy performance in the domestic equity market. Further, the dollar index also increased by 0.18% and was at 94.15.

USD/ INR: Oil Prices

The US WTI crude for October rose by 0.4% to USD 39.96 and was trading at USD per barrel on 23rd September. On the other hand, Brent Crude increased by 0.6% was at USD 41.95 per barrel at 10:35 GMT. The oil prices did surprisingly well despite all the problems like the rising dollar, and the lack of demand. But, the prices do remain fragile and may reduce if there is a massive drop in demand or increase in inventories.

USD/ INR- Gold Prices

Gold prices decreased on 23rd September, for the third straight day. Accordingly, October gold futures decreased by 1.2% to Rs. 49,764 per 10 grams on the multi-commodity exchange. Likewise, Silver futures fell by 4% to Rs. 58,851 per kg. In the global market, spot gold fell by 1% and traded at USD 1,880.46. The primary reason for the reduction in gold prices is the strengthening of the US Dollar. Even though gold is seen as a hedge against inflation, many investors have moved from commodities like gold to Dollar.

USD/ INR- Sensex Today

The Sensex further fell for the third day in a row. That is, it was down by 0.17% and saw a 65.66 point decrease. Accordingly, it ended at 37,668.42 at 3:40 PM IST on 23rd September. Also, the NIFTY saw a fall of 0.20% or 21.80 points and ended up at 11,131.85. The BSE Midcap and smallcap indices also ended lower. Investor sentiment was impacted by increasing cases and new restrictions around the world.

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