Indian rupee recovered most of its losses after suspected RBI intervention, but global risk aversion meant the Indian currency would remain under pressure in the near term. Month-end demand for the American currency from importers and some banks along with weakness in the domestic equity market added some pressure on the rupee. The Reserve Bank of India is expected to sell dollars in case the rupee fell sharply from current levels. Meanwhile, the euro slid to a 10-year low against the yen and the lowest in nearly a year versus the dollar on Thursday, further aiding to fall in rupee.
Finally the rupee ended at 53.09, weaker by 1 paisa from its previous close of 53.08 on Wednesday. It has touched a high and a low of 53.5050 and 53.0300 respectively. The Reserve Bank of India's reference rate for the dollar stood at Rs 53.3585 and for Euro it stood at 68.9881 on December 29, 2011. While, the RBI's reference rate for the Yen stood at 68.67 and the reference rate for the Great Britain Pound (GBP) stood at 82.5082. 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: