Indian rupee depreciated against dollar on Monday amid dollar demand from local oil refiners and cautious global risk appetite of investors on concerns over a slowdown in China. However rising domestic stocks were not able to strengthen the local currency. Meanwhile Index of Industrial Production (IIP) numbers for the month of January rose to 6.8%. With this industrial output data expectations of a rate cut from the Reserve Bank of India at its policy review later this week has gone down.
The partially convertible currency is currently trading at 49.97, weaker by 12 paise from its previous close of 49.85 on Friday. It has touched a high and a low of 50.01 and 49.89 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 50.0150 and for Euro it stood at Rs 66.1176 on March 9, 2012. While, the RBI's reference rate for the Yen stood at 61.31 the reference rate for the Great Britain Pound (GBP) stood at 79.0087. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
March 9, 2012 | 50.02 | 79.0087 |
March 7, 2012 | 50.57 | 79.5670 |
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: