IGI Logo

Daily Currency Snapshot

* Rupee future maturing on October 27th depreciated yesterday by almost 0.40% amid uptick in crude oil prices. Further, foreign funds outflow from the domestic equity markets pressurised rupee

* The US dollar depreciated on Monday amid weaker than expected economic data from the US. The ISM Manufacturing PMI unexpectedly fell to 50.9 in September of 2022, pointing to the slowest growth in factory activity since the contractions in 2020

* The Euro appreciated yesterday amid weak US dollar. However, weaker than expected manufacturing data from the Euro area restricted further upside in the euro

* The pound edged higher by almost 1.50% yesterday on reports that Britain would reverse plans to cut the highest rate of income tax, one contentious part of a package of financial measures that last month sent sterling and British government bonds into meltdown

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.html
SEBI Registration number INZ000183631

Above views are of the author and not of the website kindly read disclaimer