Indian rupee after making a modestly lower start and trading mostly flat, managed to end slightly higher on Wednesday. Although, the regional peers remained in red, the domestic currency extended its gains supported by some late hour recovery in the equity markets. However, intraday the rupee slipped at the Interbank Foreign Exchange due to increased demand for the US currency from importers and dollar’s strength overseas. In global markets the dollar halted its two days losing streak ahead of the release of the Federal Reserve’s minutes of most recent meeting.
Finally, the rupee ended at 61.40, stronger by 2 paise from its previous close of 61.42 on Tuesday. The currency touched a high and low of 61.54 and 61.34 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 61.46 and for Euro stood at 77.65 on October 08, 2014. While, the RBI’s reference rate for the Yen stood at 56.69, the reference rate for the Great Britain Pound (GBP) stood at 98.7678. 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: