SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee weakens against US dollar on Wednesday

09 Nov 2016 Evaluate

Indian rupee weakened against the US dollar on Wednesday on the government’s surprise move to ban Rs 500 and Rs 1,000 currency notes in a bid to curb black money. Besides, an early trend suggesting Republican Donald Trump’s lead in US presidential election also influenced the trading sentiment. Furthermore, a fresh demand for the American currency from importer too weighed on the domestic unit. On the global front, the dollar tumbled more than three percent against the yen, while the Mexican peso sank to a record low on Wednesday, as Republican Donald Trump took a shocking lead in the fiercely-contested US election.

The partially convertible currency is currently trading at 66.86, weaker by 24 paise from its previous close of 66.62 on Tuesday. The currency touched a high and low of 66.9250 and 66.7200 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.70 and for Euro stood at 73.65 on November 08, 2016. While the RBI’s reference rate for the Yen stood at 63.91, the reference rate for the Great Britain Pound (GBP) stood at 82.71.The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
November 08, 201666.707382.7104
November 07, 201666.730182.9322

(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: