SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee weakens on increased demand for dollar from importers and banks

25 Oct 2016 Evaluate

Indian rupee weakened against US dollar on Tuesday on increased demand for the American unit from importers and banks amid foreign capital outflows. Besides, dollar’s strength against currencies overseas because of increased prospects of a US interest rate hike, and weakness in the domestic equity market also weighed on the domestic unit. On the global front, the dollar held near nine-month highs against a basket of major currencies as solid US manufacturing activity and comments from a Federal Reserve official cemented expectations of a US rate hike by year-end.

The partially convertible currency is currently trading at 66.88, weaker by 4 paise from its previous close of 66.84 on Monday. The currency touched a high and low of 66.93 and 66.8650 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.86 and for Euro stood at 72.80 on October 21, 2016. While the RBI’s reference rate for the Yen stood at 64.43, the reference rate for the Great Britain Pound (GBP) stood at 81.67. The reference rates are based on 12 noon rates of a few select banks in Mumbai. 

Date1US$1GBP
October 24, 201666.862581.6725
October 21, 201666.894381.9589
(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: