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Daily Currency Snapshot

* Rupee future maturing on September 28 depreciated on Monday amid a rise in crude oil prices. Further, the rupee was pressurised by a sharp drop in domestic equities

* The US dollar traded flat after touching a fresh 20-year high on Monday despite hawkish comments by Federal Reserve Chair Jerome Powell. Mr Powell told the Jackson Hole central banking conference in Wyoming on Friday that the Fed would raise rates as high as needed

* The Euro appreciated by 0.30% as European Central Bank policymakers made the case on Saturday for a large interest rate hike next month as inflation remains uncomfortably high and the public may be losing trust in the bank's inflation fighting credentials

* The pound fell yesterday to its lowest level since March 2020 as mounting concerns about the economic outlook gave traders added reason to dump the currency. Further, a fresh downgrade of British economic forecasts from Goldman Sachs, added to the downbeat mood towards sterling

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