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USD/ INR: Indian Rupee Forex Report on 29 October

USD/INR- The Rupee was at 74.406 as of 09:10 PM IST on 29 October. The increase in the value of rupee was mainly due to some gains in the domestic equity market. The Rupee opened at 74.217 on Thursday. The day’s range was between the lowest of 73.938 and the highest of 74.525. On the other hand, the dollar index was at 94.00 yesterday.

USD/ INR: Oil Prices

The WTI futures fell by 3.61% and ended the day at USD 36.04 by 06:35 GMT. On the other hand, Brent futures for October also decreased by 3.66% and was at USD 437.69. The fall was attributed to the stable US Dollar. Usually, a weaker dollar makes commodities that are priced in the dollar more lucrative to buyers. The oil prices were mainly dependent on the imbalanced demand-supply ratio.

USD/ INR- Gold Prices

Gold prices fell after having some early gains at the beginning of this week. The October gold futures fell by 0.41% or 205.00 points from their previous close to end at Rs. 50,5290 per 10 grams on the multi-commodity exchange. In the international market, spot gold traded at $1868.00 per ounce.

Gold prices were still supported by the weak US Dollar and the increasing
number of coronavirus cases around the world. But, the consumer demand for the metal remained low in the country, but it might recover as it is a safe haven among investors during uncertainties.

USD/ INR- Sensex on 30 October

The Sensex was back in red on Thursday after a 172 point. Accordingly, it ended at 39,749.80 at 3:40 PM IST on 30 October. Also, the NIFTY saw a fall of 58 points and finalised at 11,670. Bharti Airtel was one of the major gainers in the Sensex. ONGC, Tech Mahindra, Infosys and Axis Bank were the top losers today.

Read More: USD/ INR: Indian Rupee Forex Report on 29 October

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