SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee strengthens on increased selling of American currency

30 Dec 2016 Evaluate

Indian rupee strengthened against the dollar on Friday as exporters and banks intensified selling of the US currency amid a firm domestic equity market. Further, the dollar’s weakness against other currencies too influenced the rupee uptrend. On the global front, the euro jumped to its highest in three weeks in thin Asian trade on Friday, but was on track for a losing year on expectations that US President-elect Donald Trump's policies will boost inflation and prompt the US Federal Reserve to hike interest rates more frequently.

The partially convertible currency is currently trading at 67.96, stronger by 14 paise from its previous close of 68.10 on Thursday. The currency touched a high and low of 67.99 and 67.9350 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.12 and for Euro stood at 71.21 on December 29, 2016. While the RBI’s reference rate for the Yen stood at 58.41, the reference rate for the Great Britain Pound (GBP) stood at 83.41.The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
December 29, 201668.1241 83.4180
December 28, 201668.225083.8622
(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:

×