SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee prolongs bearish trend on Friday

21 Apr 2012 Evaluate

Indian rupee weakened for third consecutive session on Friday as investor’s pruned their holdings on country's weak economic outlook and fears that more pain was in store for the currency given limited fiscal and monetary space for supporting growth. Increase in dollar demand from gold importers stocking up supplies of the yellow metal before Akshaya Tritiya festival on April 24 was seen hurting rupee. Besides this, even the fall of Indian equity markets acted as a roadblock in the Indian currency’s momentum. On the global front, euro rose on Friday after a better-than-expected a German business sentiment survey.

Finally the rupee ended at 52.08, weaker by 5 paise from its previous close of 52.13 on Thursday. It has touched a high and low of 52.20 and 51.96 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 51.99 and for Euro it stood at Rs 68.39 on April 20, 2012. While, the RBI's reference rate for the Yen stood at 63.70 the reference rate for the Great Britain Pound (GBP) stood at 83.5398. The reference rates are based o n 12 noon rates of a few select banks in Mumbai.

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:

×