SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee ends lower on Thursday

16 Jul 2015 Evaluate

Indian rupee ended lower on Thursday due to increased demand for the American currency from importers and hawkish comment by the Federal Reserve Chair Janet that strengthened the demand for the greenback overseas. The interest rate hike remained likely this year as the economy improves, putting pressure on the rupee. The domestic currency even ignored the surge in the local equity markets, which reached their three months high. On global front, euro was weaker against the dollar, with investors becoming aware of monetary policy divergence in the US and the eurozone amid receding fears about geopolitical and financial instability.

Finally, the rupee ended at 63.52,10 paise weaker from its previous close of 63.42 on Wednesday. The currency touched a high and low of 63.54 and 63.47 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.49 and for Euro stood at 69.39 on July 16, 2015. While, the RBI’s reference rate for the Yen stood at 51.28, the reference rate for the Great Britain Pound (GBP) stood at 99.1736. 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:

×