SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee ends tad lower against dollar on Wednesday

28 Jun 2017 Evaluate

In line with equity market, the Indian rupee ended marginally lower against US dollar due to fresh demand for the American currency from banks and importers. Traders remained cautious ahead of the Goods and Services Tax (GST) implementation from July 1, 2017. According to the Finance Minister Arun Jaitley, people may have to face some difficulty initially during the GST is rolled out, but in the long run the new indirect tax regime would help cut tax evasion and check price rise. He also said that the GST Council will look at bringing real estate within the GST net by next year and revisit taxing of petroleum products under the new regime in 1-2 years. Besides, US dollar’s gain against other currencies overseas too dragged the rupee down. On the global front, euro surged to a one-year high on Wednesday, sparked by European Central Bank chief Mario Draghi’s startlingly upbeat view on the inflation outlook.

Finally, the rupee ended at 64.55, 2 paise weaker from its previous close of 64.53 on Tuesday. The currency touched a high and low of 64.63 and 64.50 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.52 and for Euro stood at 73.37 on June 28, 2017. While the RBI’s reference rate for the Yen stood at 57.44, the reference rate for the Great Britain Pound (GBP) stood at 82.66. 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:

×