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Daily Currency Snapshot

• Rupee future maturing on October 27 appreciated on Friday amid uptick in domestic equity markets. Further, drop in crude oil prices supported rupee.

• US dollar edged higher by almost 0.75% on Friday amid stronger than expected Michigan consumer sentiment data. The University of Michigan consumer sentiment for the US rose to 59.8 in October 2022, the highest in six months above market expectations of 59

• The Euro depreciated on Friday amid rise in US dollar index. However, sharp downside was prevented as the Dutch government on Friday said it will spend up to €3.1 billion ($3.02 billion) to support small businesses such as bakeries and greenhouses that have been hit hard by surging energy prices

• The British pound dropped almost 1.20% on Friday after British Prime Minister Liz Truss fired her Finance Minister and scrapped parts of their economic package that has caused havoc in UK financial markets

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