USD/INR- The Indian Rupee value is rising slowly but steadily since mid-April. Currently, trading in the range of 73. Accordingly, it settled at 73.81 on 5 April. Despite the ongoing COVID-19 crisis, the Indian currency is strengthening against the US Dollar. The Indian rupee traded between 73.810 and 73.920 today. On the other hand, the dollar index decreased today. Accordingly, its value fell and settled at 91.27 as of 9:40 PM EDT Wednesday.
USD/ INR: Oil Prices
The US WTI crude oil prices began this month on a positive note. However, with the ongoing oil demand concern and the growing coronavirus pandemic, it is highly uncertain and thus fell on Wednesday. Also, recent studies predict that the oil demand will not reach the pre-crisis level until 2023. Accordingly, crude oil decreased by 0.23% at 8:05 PM on 5 May to trade at USD 65.48 per barrel globally. At the same time, Brent Crude was set at USD 68.85 per barrel and traded at a rate of 0.16% lower.
USD/ INR- Gold Prices
Precious metal prices rose amid the COVID19 cases surge in India. Accordingly, gold futures increased by 0.24% or 111.00 Rupees to settle at 46982.00 per 10 grams on the multi-commodity exchange. On the contrary, Silver futures decreased by 832.00 Rupees or 1.20% to settle at Rs. 686609.00 per kg. The resurgence of the 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 1755.00 per ounce in New York. On the other hand, Silver traded at USD 26.00 per ounce.
USD/ INR- Sensex Today
The BSE Sensex rose and ended in the green on 5 May. Accordingly, Sensex increased by 0.88% or 424.04 points. Thereby ending the session at 48677.55 at 4:10 PM IST Wednesday. Similarly, the NIFTY increased by 0.84% or 121.35 and ended up at 14617.85.