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Daily Currency Snapshot

* Rupee future maturing on September 28 appreciated on Friday amid weakness in crude oil prices. Further, the rupee was supported by foreign fund inflows

* The US dollar gained on Friday after Federal Reserve Chair Jerome Powell adopted a hawkish tone to battle inflation but did not settle the debate on how large a rate increase is likely at the US central bank’s September meeting

* The Euro depreciated on Friday amid weak economic data from the euro area. The GfK Consumer Climate Indicator in Germany fell to a new record low of -36.5 heading into September of 2022 from a revised -30.9 in the prior month and worse than market forecasts of -31.8

* The pound dropped almost 0.80% on Friday on expectations that British energy bills will jump 80% to an average of £3,549 ($4,188) a year from October, plunging millions of households into fuel poverty and businesses into jeopardy unless the government steps in

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