Rupee future maturing on September 28 depreciated by 0.73% yesterday - ICICI Direct
Daily Currency Snapshot
• Rupee future maturing on September 28 depreciated by 0.73% yesterday to an all-time low of 81.71 amid strengthening of the US dollar and risk-averse sentiment among investors
• The US dollar edged higher by almost 1% to a new 22-year high as the Fed signalled it will maintain its hawkish stance and go for further large rate hikes. Further, a sharp rise in US 10 year’s treasury yields supported the dollar
• The Euro depreciated on Monday to a 20-year low amid weak economic data from the eurozone. The LFO Business Climate indicator for Germany dropped to 84.3 in September 2022, the lowest level since the aftermath of the Covid-19 pandemic shock in May 2020 and well below market consensus of 87.0
• The pound fell back towards an all-time low on Monday after a statement from the Bank of England (BoE) disappointed market expectations for an emergency rate hike to shore up the weak British currency
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