The beginning of the year is looking rosy for the Swedish krone, after December saw unexpected manufacturing expansion. An index based on feedback from purchasing managers jumped to 55.4 for December, the largest increase since April from 52.7. Any reading above 50 indicates manufacturing expansion. Swedbank said the index “indicates solid industrial growth”.
The Indian rupee recovers slightly
The Indian rupee, started to recover from three week loses on Friday, as it gained almost half a percent against the dollar. The Indian currency sat at 63.2950 per dollar at the end of last week.