SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee weakens on increased demand for American unit from importers and banks

09 Feb 2016 Evaluate

Indian rupee weakened and again broke below the 68-mark against dollar in early deals on Tuesday due to increased demand for the American unit from importers and banks amid a lower opening in the domestic equity market, even as data showed the domestic economy grew 7.3 percent in the December quarter, while the CSO pegged FY16 GDP growth at 7.6 percent. On the global front, the dollar briefly crashed through the 115-yen level to its lowest since November 2014 on Tuesday, as a sell-off in European and US stocks continued into the Asian session and stoked demand for the perceived safe-haven Japanese currency.

The partially convertible currency is currently trading at 68.18, weaker by 24 paise from its previous close of 67.94 on Monday. The currency touched a high and low of 68.20 and 68.1025 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.81 and for Euro stood at 75.53 on February 10, 2016. While the RBI’s reference rate for the Yen stood at 57.75, the reference rate for the Great Britain Pound (GBP) stood at 98.3308. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
February 08, 201667.819098.3308
February 05, 201667.636598.4720
(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:

×