SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee ends stronger ahead of RBI's policy review

05 Apr 2017 Evaluate

Indian rupee ended stronger against the US dollar on Wednesday on the back of increased selling of the American currency amid continued foreign inflows. Local currency wiped off its early losses as sentiments turned optimistic with the government achieving the upward revised target of tax collection for FY17 and reporting a total tax collection of Rs 17.10 lakh crore during 2016-17 -- an increase of 18 percent over 2015-16 and the highest tax collection in last six years. However, traders remained cautious ahead of the Reserve Bank of India’s Monetary Policy Committee meeting outcome on April 6, 2017, expecting it to maintain status quo on interest rates. On the global front, the dollar came under pressure after North Korea fired a ballistic missile into the sea ahead of a summit between US and Chinese leaders.

Finally, the rupee ended at 64.87, 15 paise stronger from its previous close of 65.02 on Monday. The currency touched a high and low of 65.17 and 64.87 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.04 and for Euro stood at 69.40 on April 05, 2017. While the RBI’s reference rate for the Yen stood at 58.76, the reference rate for the Great Britain Pound (GBP) stood at 80.87.The reference rates are based on 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: