SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee retreats from 52 per dollar resistance level

20 Apr 2012 Evaluate

Indian rupee after scaling a new 3 month low in early deals on Friday has now retreated from the 52 per dollar psychological level, on probable RBI intervention. However, cut of losses in Indian equity markets, also has aided to recuperation sentiment of beleaguered Indian currency. Widening current account deficit, caused in large part by rising oil prices, slowing growth, and fears of a spillover from the festering euro zone debt crisis, mainly has curbed risk appetite for emerging markets currencies, including rupee, which for 4 out of 5 trading session of week, has traded weak.

However, speculators also fear rupee testing its mid-December record highs of 54.30, given the slew of domestic negatives and global economic woes. Moreover, the subdued trend of regional counterparts is also perturbing the momentum of Indian currency.

The partially convertible currency is currently trading at 52.01, stronger by 12 paise from its previous close of 52.13 on Thursday. It has touched a high and low of 8.05 and 6.00 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 51.89 and for Euro it stood at Rs 68.063 on April 19, 2012. While, the RBI's reference rate for the Yen stood at 63.65 the reference rate for the Great Britain Pound (GBP) stood at 83.1845. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP

April 19, 2012

51.89 83.1845

April 18, 2012

51.5081.9884
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:

×