USD/ INR: Rupee Weakens Against the US Dollar

USD/INR- The Indian Rupee was at 73.48 as of 11:42 PM IST on 11th September. Further, the rupee saw an intra-day high of 73.40 and low of 73.61 against the US Dollar. The domestic equity market remained muted today, and the dollar index rose by 0.13% to 93.21.

USD/ INR: Oil Prices

The WTI futures fell by 2 cents and was at USD 37.28 a barrel by 01:10 GMT after increasing by 3.5% yesterday. On the other hand, Brent futures for November decreased by 0.2% and was at USD 39.98 per barrel. The decrease in prices resulted from an unexpected rise in the US stockpiles owing to the lack of oil demand. The increasing number of coronavirus cases has slowed down recovery in many parts of the world.

USD/ INR- Gold Prices

Gold prices further fell on 11th September. Accordingly, October gold futures fell by 0.9% to Rs. 51,306 per 10 grams on the multi-commodity exchange. Similarly, Silver futures fell by 1.5% to 67,970 per kg. In the international market, spot gold traded at $1,947.41 per ounce, decreasing by 0.3% from the previous session. The dollar strengthened later in the day and held gold back, but the prevailing economic uncertainty capped losses on gold.

Gold prices may remain volatile as the US Dollar and the global equity markets look for some direction. But, the economic uncertainty and geopolitical tensions between the US and China and the concerns over Brexit will contribute to gold’s haven appeal.

USD/ INR- Sensex Today

The Sensex ended in green for the second consecutive day. That is, it was up by 0.037% and saw a 14.23 point increase. Accordingly, it ended at 38,854.55 at 3:40 PM IST on 11th September. Similarly, the NIFTY saw a rise of 15.20 points or 0.13% and ended up at 11,464.45.

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