India rupee ended substantially weaker against dollar on Thursday mainly due to strong demand for the American unit from importers and banks. The domestic currency fell below the crucial 67-mark, tracking the sustained strength of the US dollar against its basket of emerging market currencies and weakness in the Indian and global markets. The fall in the rupee to its weakest since September 2013 has left investors unruffled as they believe the country's sturdier economy and central bank interventions will allow the currency to navigate a difficult global environment. Investors failed to get solace after Wholesale Price Index (WPI) -- based inflation for December 2015 came in at (-) 0.73%. On the global front, dollar was up against the yen, reversing a move earlier in the day that saw the yen near a five-month high against the U.S. currency.
Finally, the rupee ended at 67.29, 44 paise weaker from its previous close of 66.85 on Wednesday. The currency touched a high and low of 67.30 and 66.95 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.09 and for Euro stood at 72.97 on January 14, 2016. While, the RBI’s reference rate for the Yen stood at 57.01 the reference rate for the Great Britain Pound (GBP) stood at 96.6369. 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: