Rupee future maturing on October 27 fell to a record low on Monday - ICICI Direct
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Daily Currency Snapshot
• Rupee future maturing on October 27 fell to a record low on Monday amid a negative trend in domestic equity markets. Further, a rise in the US dollar index pressurised the rupee
• The US dollar strengthened for a fourth consecutive session to above 113 on Monday, as investors continue to bet the Federal Reserve will press ahead with its aggressive tightening plans. Further, a sharp rise in US 10 year’s treasury yield supported the US dollar
• The Euro depreciated yesterday amid a strong US dollar index. However, a sharp rise in German 10 year’s bond yields prevented a further downside in the Euro
• The pound traded flat yesterday even after the Bank of England (BoE) expanded its support for financial markets. Further, a rise in US dollar pressurised the sterling
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
