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Daily Currency Snapshot

• Rupee future maturing on October 27 appreciated on Thursday amid rise in domestic equity markets. However, further appreciation was restricted by uptick in crude oil prices

• The US dollar depreciated yesterday amid weaker than expected Philadelphia Fed manufacturing index data from the US. The Philadelphia Fed manufacturing index in the US remained negative at -8.7 in October 2022, below market expectations of -5

• The Euro edged higher on Thursday amid a weak US dollar. Furthermore, stronger than expected economic data from the euro area supported the Euro. Producer prices in Germany increased 2.3% from a month earlier in September 2022, topping market expectations of 1.3%

• The British pound rallied on Thursday as Liz Truss said she would resign as Prime Minister, brought down by her economic programme that sent shockwaves through the markets and divided her Conservative Party just six weeks after she was appointed

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