SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee depreciates on incremental dollar demand

20 May 2015 Evaluate

Indian rupee depreciated against dollar on Wednesday tracking losses of Asian currencies against dollar, though gains of local equities on rate cut hopes limited further slide of Indian currency. Meanwhile, incremental dollar demand from banks and oil importers also weighed on the sentiment. On the global front, dollar registering third day of gains touched a three week high against the euro before halting on Wednesday, adding to a growing sense the US currency may be ready for another run higher after its weakest period in four years.

Finally, the rupee ended at 63.82, weaker by 14 paise from its previous close of 63.68 on Tuesday. The currency touched a high and low of 63.88 and 63.66 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.86 and for Euro stood at 70.73 on May 20, 2015. While, the RBI’s reference rate for the Yen stood at 52.76, the reference rate for the Great Britain Pound (GBP) stood at 98.8893. 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:

×