SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee resumes southbound journey; depreciates 30 paise against dollar

27 Dec 2011 Evaluate

Indian rupee after taking a breather in earlier session again continued its southbound journey to depreciate on Tuesday due to dollar demand from local oil refiners and bunched-up outflows as US financial markets resume after an extended Christmas holiday. Oil is India's biggest import item and consequently, local oil refiners are the largest buyers of dollars in the domestic foreign exchange market. However, negative sentiment in local share market as investors turned wary about building positions before the quarter ends also added pressure on the currency. The trigger of Japan and India dollar swap agreement was unable to strengthen the currency as traders await the deal announcement and inflows.

Finally the rupee ended at 53.02, weaker by 30 paise from its previous close of 52.72 on Monday. It has touched a high and a low of 53.12 and 52.76 respectively. The Reserve Bank of India's reference rate for the dollar stood at Rs 52.8945 and for Euro it stood at 69.1508 on December 27, 2011. While, the RBI's reference rate for the Yen stood at 67.90 and the reference rate for the Great Britain Pound (GBP) stood at 82.7111. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

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:

×