SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Indian rupee ends considerably weaker against dollar on Tuesday

09 May 2017 Evaluate

Tracking losses in Asian currency markets, Indian rupee ended considerably weaker against the US dollar on Tuesday, on increased demand for the American currency from importers amid sustained foreign fund outflows. Foreign portfolio investors (FPIs) have sold stocks worth a net Rs 3081.98 crore into the secondary equity markets in May 2017 so far (till May 08, 2017). They sold stocks worth a net Rs 1645.32 crore in April 2017. Besides, the dollar’s strength against other currencies overseas, as investors raised expectations of another US interest rate hike next month, also weighed on the domestic unit. On the global front, yen weakened against Dollar, on Tuesday following news of further earnings weakness in Japan. As per the official data, Labor cash earnings for March fell by 0.4% on the year. Total real cash earnings were miserable too, they fell by 0.8%, from a flat reading in February.

Finally, the rupee ended at 64.62, 31 paise weaker from its previous close of 64.31 on Monday. The currency touched a high and low of 64.70 and 64.44 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.50 and for Euro stood at 70.46 on May 09, 2017. While the RBI’s reference rate for the Yen stood at 56.90, the reference rate for the Great Britain Pound (GBP) stood at 83.52. 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:

×