USD/ INR: Rupee Weakens Against the US Dollar

USD/INR- The Rupee was at 73.18 as of 05:52 PM IST on 2nd September. The main reason for the fall in the value of rupee was the mediocre performance of domestic equities and the strengthening US Dollar. The Indian Rupee recorded the highest at 73.13 and the lowest at 73.90.

USD/ INR: Oil Prices

The WTI futures rose by 0.7% and ended the day at USD 43.04 by 12:20 GMT. On the other hand, Brent futures for November increased by 0.7% and was at USD 45.89. Oil prices gained for three days straight. The fall in the US inventories immensely helped oil prices. Further, the manufacturing data seemed optimistic and therefore supported the oil prices gain as well.

USD/ INR- Gold Prices

Gold prices continue to fall. The October gold futures fell by 0.12% to Rs. 51,438 per 10 grams on the multi-commodity exchange. Likewise, Silver futures also fell by 1.6% to 69, 732 per kg. In the international market, spot gold traded at $1,957.15 per ounce, indicating a fall of 0.7%.

The gold prices fell as the US dollar strengthened after previously reaching its two year low. Further, the strong global equity market and weak consumer demand also impacted the gold prices. As investors gain confidence in riskier assets, they’ll look to move away from gold.

USD/ INR- Sensex on 2nd September

The Sensex was back in the green for the second straight day. That is, it was up by 0.48% on Wednesday and saw a 185.23 point increase. Accordingly, it ended at 39,086.03 at 3:40 PM IST on 2 September. Also, the NIFTY saw a rise of 64.75 points or 0.56% and finalised at 11,535.00. Banking stocks led the way on 2 September. Zee Entertainment and M&M were the top gainers in the NIFTY50. At the same time, Bajaj Auto and Hero Motocorp were the top index losers.

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