SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee weakens on increased demand for American currency from importers

08 Jul 2016 Evaluate

Indian rupee weakened against dollar in early deals on Friday due to increased demand for the American currency from importers amid foreign fund outflows. Further, rupee tracked the losses in the Asian currency markets as investors remained cautious ahead of the US payroll data to get a clearer picture of the health of the world’s biggest economy. However, weakness of the US dollar against major world currencies, capped the rupee’s losses. On the global front, the dollar edged down against most major currencies in Asian trade on Friday, but remained on track for a weekly gain, as investors awaited US jobs data later in the session to see if the labor market is stronger than previous surveys indicated.

The partially convertible currency is currently trading at 67.46, weaker by 7 paise from its previous close of 67.39 on Thursday. The currency touched a high and low of 67.5050 and 67.4525 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.49 and for Euro stood at 74.82 on July 7, 2016. While, the RBI’s reference rate for the Yen stood at 67.00, the reference rate for the Great Britain Pound (GBP) stood at 87.6114. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
July 07, 201667.497287.6114
July 05, 201667.402889.1537
(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:

×