SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee depreciates substantially on month-end dollar demand

29 Sep 2014 Evaluate

Indian rupee was trading substantially weak on Monday, tailing dollar’s strength against the basket of major currencies after U.S. raised estimate of Q2 GDP growth to 4.6% from 4.2%, while month end dollar demand from importers also was weighing on the sentiment. The Indian currency had rebounded strongly from one and a half month low level after international rating agency, Standard & Poor (S&P’s) reversing the stance it took two years ago, lifted India’s rating outlook to 'stable' from 'negative', in a validation of Prime Minister Narendra Modi's ambitious agenda of economic and fiscal reforms. However, in today’s trading session, subdued trend of local equities also was adding to pessimistic milieu. On the global front, dollar touched a fresh four-year high against a basket of currencies and a six-year peak against the yen on Monday, getting a tailwind from data showing higher U.S. growth in the second quarter.

The partially convertible currency is currently trading at 61.45, weaker by 30 paise from its previous close of 61.15 on Friday. The currency touched a high and low of 61.50 and 61.32 respectively.  The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 61.57 and for Euro stood at 78.44 on September 26, 2014. While, the RBI’s reference rate for the Yen stood at 56.45, the reference rate for the Great Britain Pound (GBP) stood 100.4239. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
September 26, 201461.57 100.4239
September 25, 201461.02 99.4272
(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:

×