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Daily Currency Snapshot

• Rupee future maturing on October 27 dropped 0.64% to close at alltime low of 82.33 after data showed growth in India's services industry slumped in September to a six-month low, led by a substantial easing in demand amid high inflation

• The US dollar rose on Thursday, extending its gains from the previous day as investors looked ahead to Friday's key US payrolls report. Further, dollar was supported by uptick in US 10 year’s treasury yields

• The Euro depreciated yesterday as the German government expects Europe's largest economy to slide into recession next year, contracting 0.4% as an energy crisis, rising prices and supply bottlenecks take their toll

• The pound dropped by almost 1.40% yesterday amid strong US dollar. However, further downside was restricted by stronger than expected economic data from the Britain. UK construction PMI rose to 52.3 in September 2022, easily beating market expectations of 48.0 and signalling a modest overall increase in construction output

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