USD/ INR: Rupee Weakens Against the Dollar

USD/INR- The Rupee was at 74.87 as of 8:39 PM IST today. Rupee reached the highest of 74.74 and lowest at 74.93 against the US Dollar. The dollar index also fell by 0.05% and was at 93.29. The weak domestic equities contributed to the decline of the rupee today.

USD/INR: Oil Prices Fall

On Friday, the WTI futures fell by 0.40% cents and ended the day at USD 42.07 by 08:38 IST. On the other hand, Brent crude also decreased by 0.49% cents and was at USD 44.74. A weaker dollar usually helps oil prices, but that has not been the case. The fear regarding future demand has kept the market volatile.

USD/ INR- Gold Prices Today

Gold prices further fell today at a domestic level. Accordingly, the October gold futures fell by 0.8% to end at Rs. 52,495 per 10 grams on the multi-commodity exchange. In the international market, spot gold traded at USD 1,952 per ounce, thus remaining flat. Similarly, Silver futures fell by 3% to Rs. 68,886 per kg.

The stalemate regarding the new stimulus bill is continuing in the US. Further, 28 million people are still receiving unemployment cheques even though unemployment claims dropped below 1 million for the first time. All these uncertainties, along with the US-China tensions and the announcement of the new Russian vaccine for coronavirus will impact gold prices significantly.

USD/ INR- Sensex on 14th August

The Sensex ends in red for the third straight day in a row. That is, it was down by 1.13% on Friday and saw a 433.15 point decrease. Accordingly, it ended at 37,877.34 at 3:40 PM IST. Similarly, the NIFTY saw a fall of 122.05 points or 1.08% and ended at 11,178.40. The Adjusted Gross Revenue (AGR) case in the Supreme Court, along with the unclear US stimulus situation greatly influenced investor sentiment.

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