SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee depreciates after early gains tailing dollar’s strength overseas

12 Jun 2014 Evaluate

Indian rupee, after snapping two consecutive sessions’ losing streak and edging tad higher in previous trading session, resumed its depreciation on Thursday, tailing dollar’s strength against other Asian currencies overseas. However, gains of local equities, to some extent were capping rupee’s losses. Meanwhile, caution ahead of consumer price inflation and the industrial output data due later in the session, also weighed on the sentiment. On the macro-front, street widely expects factory output to rise for the first time in April since January, to reflect healthy growth in core industries and consumer price index to ease in May. On the global front, dollar edged lower against a basket of major currencies on Wednesday for the first time in four sessions after traders dismissed expectations of an early Federal Reserve rate hike, while the yen advanced on few signs of further easing from the Bank of Japan.

The partially convertible currency is currently trading at 59.33, weaker by 6 paise from its previous close of 59.27 on Wednesday. The currency touched a high and low of 59.36 and 59.31 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 59.32 and for Euro stood at 80.32 on June 11, 2014. While, the RBI’s reference rate for the Yen stood at 57.99, the reference rate for the Great Britain Pound (GBP) stood at 99.4168. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
June 11, 201459.32 99.4168
June 10, 201459.24 99.6299
(RBI-Reference Rate)

About MoneyWorks4Me

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.

Our Vision

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.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×