SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee strengthens on increased selling of American currency by exporters and banks

30 Mar 2016 Evaluate

Indian rupee strengthened against US dollar in early deals on Wednesday on increased selling of the American currency by exporters and banks amidst continued foreign fund inflows. Besides, higher opening in the domestic equity market too supported the rupee. Also, dollar’s weakness against its rivals overseas after the US Federal Reserve Chair Janet Yellen signalled that a rate hike was not likely before June, supported rupee. In a speech to the Economic Club of New York, Yellen stressed the need to be cautious in raising rates and highlighted external risks including low oil prices and slower growth abroad.

The partially convertible currency is currently trading at 66.41, stronger by 13 paise from its previous close of 66.54 on Tuesday. The currency touched a high and low of 66.5050 and 66.35 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.55 and for Euro stood at 74.47 on March 29, 2016. While the RBI’s reference rate for the Yen stood at 58.58, the reference rate for the Great Britain Pound (GBP) stood at 94.6654. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
March 29, 2016 66.558094.6654
March 28, 201666.668094.3019

(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:

×