Indian rupee ended with moderate gains against dollar on Wednesday supported by local equities, which spurted post China pledged to help resolve the euro region’s debt crisis. Even the gains of the regional counterparts coupled with firmness in euro aided the local currency. However, the local unit ended off its day’s high level as persistent dollar demand by oil firms, weighed on the sentiment. On the global front, the euro rose against the dollar despite the contraction in quarterly GDP that added to concerns the currency bloc could slip into recession later in the year.
Finally the rupee ended at 49.30, stronger by 5 paise from its previous close of 49.35 on Tuesday. It has touched a high and a low of 49.36 and 49.19 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 49.25 and for Euro it stood at Rs 64.8900 on February 15, 2012. While, the RBI's reference rate for the Yen stood at 62.76 the reference rate for the Great Britain Pound (GBP) stood at 77.4537. 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: