SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee weakens on strong demand for American currency from banks and importers

09 Nov 2015 Evaluate

Indian rupee weakened against dollar in early trade on Monday on account of strong demand for the American currency from banks and importers. Besides, gains in the dollar against major global currencies following stronger-than-expected rise in US non-farm payrolls last month put pressure on the Indian unit. Furthermore, a lower opening in domestic equity markets after Prime Minister Narendra Modi's heavy defeat in Bihar's state elections raised concerns the government would struggle to pass policy reforms, weighed on the rupee. On the global front, the dollar remained aloft in Asian trade on Monday, after soaring to nearly seven-month highs against a basket of currencies as robust US employment data prompted more investors to bet on an interest rate increase by this year.

The partially convertible currency is currently trading at 66.33, weaker by 57 paise from its previous close of 65.76 on Friday. The currency touched a high and low of 66.50 and 66.31 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.79 and for Euro stood at 71.54 on November 06, 2015. While, the RBI’s reference rate for the Yen stood at 54.00 the reference rate for the Great Britain Pound (GBP) stood at 99.9497. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
November 06, 201565.791099.9497
November 05, 201565.6755101.0221

(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:

×