SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee recoups early losses; ends strong on Thursday

18 Sep 2014 Evaluate

Indian rupee, which started off on a soft note, recouped all its losses and ended strong on Thursday on the back of gains of local equities amidst optimism that trade ties with China would attract foreign inflows and revive country's economic growth after reports suggested that China plans to invest around $500 billion overseas in the next five years, a large share of which is expected to find India's way. However, local currency’s appreciation was limited on account of weakness in other Asian currencies which was due to dovish Fed comments. On the global front, dollar hit a six-year high against the yen on Thursday after the Federal Reserve's guidance on interest rates highlighted the diverging pathways between the United States and other rich nations.

Finally the rupee ended at 60.85, stronger by 6 paise from its previous close of 60.91 on Wednesday. The currency touched a high and low of 61.20 and 60.86 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 61.05 and for Euro stood at 78.57 on September 18, 2014. While, the RBI’s reference rate for the Yen stood at 56.13, the reference rate for the Great Britain Pound (GBP) stood at 99.5515. 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: