Indian Rupee paring early gains is currently trading marginally weak on Friday tracking lower local equities amidst fresh dollar demand from the banks and importers. Dollar steadied after investors bought back the U.S. currency as they shifted their focus to stress tests on European banks. As in the early deals, rupee gained strength post the American currency dipped in losses after Standard & Poor's Ratings Services put US sovereign ratings on formal credit watch and warned of at least a 50-50 chance for a downgrade.
The partially convertible currency is currently trading at 44.53, weaker by 3 paise from its previous close of 44.50 on Thursday. It has touched a high and low of 44.53 and 44.47 respectively. The Reserve Bank of India's reference rate for the dollar stood at 44.52 and for Euro it stood at 63.15 on July 14, 2011. While, the RBI's reference rate for the Yen stood at 56.37 and the reference rate for the Great Britain Pound (GBP) stood at 71.8011. 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: