SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

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

09 Sep 2016 Evaluate

Indian rupee weakened against the US dollar on Friday on increased demand for the American currency from importers and banks. Besides, lower opening in the domestic equity market on cautious trading by the participants ahead of July IIP data due to be released later today also weighed on the domestic currency. On the global front, the dollar bumped down from its overnight highs in early Asian trade on Friday, on track for weekly losses in a week marked by continuing uncertainty about US monetary policy, while the euro firmed after the European Central Bank stood pat.

The partially convertible currency is currently trading at 66.54, weaker by 11 paise from its previous close of 66.43 on Thursday. The currency touched a high and low of 66.5625 and 66.5275 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.44 and for Euro stood at 74.77 on September 8, 2016. While the RBI’s reference rate for the Yen stood at 65.33, the reference rate for the Great Britain Pound (GBP) stood at 88.61.The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date 1US$1GBP
September 08, 201666.448388.6088
September 07, 201666.361889.0376
(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:

×