SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee strengthens against dollar in early deals on Wednesday

25 May 2016 Evaluate

Indian rupee strengthened against the US dollar in early trade on Wednesday on fresh selling of the American currency by exporters and banks amid higher opening in the domestic equity market. On the global front, the dollar stood near a two-month peak against a basket of currencies on Wednesday after robust US housing data supported the case for the Federal Reserve to raise interest rates in the near term. In US, Commerce Department reported that new home sales during April surged 16.6% to a seasonally adjusted rate of 619,000 units, an eight year high.

The partially convertible currency is currently trading at 67.54, stronger by 22 paise from its previous close of 67.76 on Tuesday. The currency touched a high and low of 67.60 and 67.50 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.70 and for Euro stood at 75.93 on May 24, 2016. While the RBI’s reference rate for the Yen stood at 61.97, the reference rate for the Great Britain Pound (GBP) stood at 98.0654. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
May 24, 201667.706098.0654
May 23, 201667.3492 97.7641

(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:

×