Indian rupee, after hitting one week low level in previous trading session, depreciated more on Friday on importers’ dollar demand, while negative local equities also added to the pessimism. The currency took a hit after Reserve Bank of India (RBI)’s Governor Raghuram Rajan reportedly said the rupee was 'too strong' at 55 to the dollar. Additionally, speculated central bank’s intervention for shoring up foreign exchange reserves too dampened the sentiments. On the global front, dollar traded close to a five-week high against a basket of currencies in Asia on Friday, as investors positioned for the possibility of an upside surprise in U.S. non-farm payrolls due later in the day.
The partially convertible currency is currently trading at 60.30, weaker by 13 paise from its previous close of 60.17 on Thursday. The currency touched a high and low of 60.39 and 60.26 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.12 and for Euro stood at 82.74 on April 03, 2014. While, the RBI’s reference rate for the Yen stood at 57.87, the reference rate for the Great Britain Pound (GBP) stood at 100.0712. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: