SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee continues trading weak on disappointing macro-economic data

03 Nov 2014 Evaluate

Indian rupee, after making an extremely weak start, which was past the perilous ‘61.50/$’ level, although recouped some losses, continued trading weaker on Monday tailing negative local equities after India's fiscal deficit reached nearly 83% of its full-year target in the first half of the year and core sector growth slowed down to 1.9% in September. On the macro-front, India's fiscal deficit was at Rs 4.39 trillion during April-September. The deficit was 76% during the comparable period in the previous fiscal year. Meanwhile, dollar demand by oil importers in wake of its strength overseas also limited depreciation of Indian currency. On the global front, dollar jumped to an almost seven-year high versus the yen and gold fell as slowing Chinese manufacturing growth and the Bank of Japan’s unexpected stimulus highlighted the diverging growth outlook for the U.S. and Asian economies.

The partially convertible currency is currently trading at 61.44, weaker by 8 paise from its previous close of 61.36 on Friday. The currency touched a high and low of 61.51 and 61.44 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 61.40 and for Euro stood at 77.18 on October 31, 2014. While, the RBI’s reference rate for the Yen stood at 55.28, the reference rate for the Great Britain Pound (GBP) stood 98.0624. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
October 31, 201461.40 98.0624
October 30, 201461.46 98.2127
(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: