Rupee future maturing on October 27 appreciated on Tuesday - ICICI Direct
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Daily Currency Snapshot
• Rupee future maturing on October 27 appreciated on Tuesday by almost 0.20% amid uptick in domestic equity markets. Further, the rupee was supported by a drop in the US dollar index
• The US dollar depreciated on Tuesday on speculation that weakerthan-expected US economic data would temper the Federal Reserve’s aggressive tightening. The number of job openings in the US dropped to 10.1 million in August of 2022, the lowest since June 2021
• The Euro appreciated on Tuesday by 1.50% after ECB policymaker Francois Villeroy de Galhau said the European Central Bank will raise interest rates as much as needed to bring down core inflation although the pace could possibly slow after the end of the year
• The pound rose for a sixth consecutive session on Tuesday as investors welcomed the British government's U-turn on some tax cuts and weak US dollar
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
