USD/ INR: Indian Rupee Forex Report on 28 October
USD/INR- The Indian Currency closes close to 75 due to inflation concerns. Accordingly, it settled at 74.89 on 28 October. The Indian rupee traded between 74.755 – 75.135 today. As of now, the dollar inflow and the intervention from RBI weaken the upward trend of USD/INR. On the other hand, the dollar index increased today. Accordingly, its value rose and settled at 93.91 of 05:25 PM EDT Thursday.
USD/ INR: Oil Prices
The US WTI crude oil prices are highly volatile. Oil refiners are beginning to face the margins affected due to the record high prices of natural gases in Europe and Asia. Also, the oil demand forecasts fall flat as the demand continues to grow. Owing to this, the prediction of oil prices are highly uncertain these days. The recent news is that the oil prices are set to rise high based on the huge crude inventory draw. Accordingly, crude oil decreased by 1.08% at 05:40 PM on 28 October to trade at USD 81.77 per barrel globally. On the other hand, Brent Crude was set at USD 83.71 per barrel and traded at a rate of 1.03% lower.
USD/ INR- Gold Prices
Precious metal prices are slowing rebounding in India, they are highly volatile trying to regain their momentum. The gold import in India has surged 8 times higher. Accordingly, gold futures increased by 0.13% or ₹63.00to settle at ₹ 48025.00 per 10 gram on the multi-commodity exchange. On the other hand, Silver futures fell by ₹ 81.00 or 0.12% to settle at ₹ 65084.00 kg. The scare of the emergence of the third wave of COVID-19 pandemic and the COVID-19 mutants kept precious metals’ prices on edge this year. In the international market, Spot Gold was trading at USD 1761 per ounce in New York. On the other hand, Silver traded at USD 22.42 per ounce.
USD/ INR- Sensex Today
The BSE Sensex fell and ended in the red on 28 October for the second consecutive day. Accordingly, Sensex decreased by 1.89% or 1158.63 points. Thereby, ending the session at 59984.70 at 4:10 PM IST Thursday. On the other hand, the NIFTY also decreased by 1.94% or 353.70 points and ended at 17857.25.