Indian rupee was trading weak against dollar on Tuesday on the back of gains in the American currency overseas and weakness in the domestic equity market. Indian currency after making a weak start continued trading subdued in absence of any positive triggers, which could lift the currency higher. Local unit in the previous trading session although had cooled off from five week’s high level, but ended quite strong on the back of broad dollar losses, record high close of local equities and strength of other Asian currencies. However, appreciation of dollar to fourteen months high level against basket of Indian currency, mainly weighed on the sentiment. On the global front, dollar scaled a 14-month high against a basket of currencies on Tuesday, after a Federal Reserve study made investors reassess prospects for higher U.S. interest rates, while sterling fell on worries that Scots may vote for independence.
The partially convertible currency is currently trading at 60.43, weaker by 14 paise from its previous close of 60.29 on Monday. The currency touched a high and low of 60.48 and 60.42 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.26 and for Euro stood at 77.94 on September 8, 2014. While, the RBI’s reference rate for the Yen stood at 57.33, the reference rate for the Great Britain Pound (GBP) stood at 97.5112. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| September 8, 2014 | 60.26 | 97.5112 |
| September 5, 2014 | 60.43 | 98.6417 |
(RBI-Reference Rate)
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: