USD/ INR: Rupee Weakens Against US Dollar

USD/INR- The Rupee was at 74.81 as of 7:22 PM IST. The rupee recorded the highest value of 74.77 and the lowest value at 74.93 against the US Dollar. Weak domestic equities, as well as Index of Industrial Production Data, contributed to the decrease in value. On the other hand, good foreign fund inflows limited the fall and helped the Indian Rupee.

USD/INR: Oil Prices Rise

Today, the Brent futures rose by 52 cents and ended the day at USD 45.02 by 06:48 GMT. On the other hand, WTI crude also increased by 49 cents and was at USD 42.10. The primary cause for this is because the inventories in the US fell more than expected. Therefore, there is renewed hope that the fuel demand in the US can come through the crisis.

USD/ INR- Gold Prices Further Decrease

Gold prices further fell today. On the multi-commodity exchange, the October gold futures fell by 3% to end at Rs. 50,441 per 10 grams. In the international market, spot gold traded at USD 1,872.61 per ounce, also seeing a fall of 2.1%. Silver futures also declined by 5% to Rs. 61,972 per kg.

Some analysts believe that the trigger for the collapse is the newly cleared Russian vaccine for the coronavirus by President Vladimir Putin. Due to the reduction in risk sentiment, gold prices fell today.

USD/ INR- Sensex Today

Sensex falls after a 4-day high today. That is, Sensex was down by 0.097% today and saw a 37.38 point decrease. Accordingly, it ended at 38,369.63 at 3:40 PM IST. Similarly, the NIFTY saw a fall of 0.12% and ended at 11,308.40. HCL Tech, Tech Mahindra and the SBI were the top index gainers today. While, on the other hand, Sun Pharma, Kotak Finance and Bajaj Fin were the top index losers today.

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