Indian rupee surrendering its early gains concluded weak against dollar on Tuesday on fresh dollar demand from banks and oil importers amid stronger greenback in overseas markets. Though, domestic currency traded strong in the early deals, it erased all its early gains after local equity markets tumbled by over 2%. The sentiments were under pressure after Asian Development Bank stated that weaker growth in China this year is expected to cause a slowdown in the rest of Asia. On the global front, dollar was higher against a basket of major currencies overseas after comments from Federal Reserve officials revived expectations that U.S. interest rates will still be hiked later this year.
Finally, the rupee ended at 65.88, 15 paise weaker from its previous close of 65.73 on Monday. The currency touched a high and low of 66.00 and 65.55 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.62 and for Euro stood at 73.26 on September 22, 2015. While, the RBI’s reference rate for the Yen stood at 54.50, the reference rate for the Great Britain Pound (GBP) stood at 101.7319. 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: