SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee weakens on fresh demand for US currency from importers and banks

30 Jun 2017 Evaluate

Indian rupee weakened against US dollar on Friday, due to fresh demand for the US currency from importers and banks. Rupee fell further tracking volatile local equity markets ahead of the rollout of goods and services tax (GST) from 1 July. However, some losses were limited because the US dollar plunged to a 12-month low against the euro, as odds rose that there could be shifts in monetary policy by the European Central Bank and the Bank of England.

The partially convertible currency is currently trading at 64.67, weaker by 5 paise from its previous close of 64.62 on Thursday. The currency touched a high and low of 64.7300 and 64.6325 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.47 and for Euro stood at 73.52 on June 29, 2017. While the RBI’s reference rate for the Yen stood at 57.40, the reference rate for the Great Britain Pound (GBP) stood at 83.56. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
June 29, 2017 64.471583.5615
June 28, 2017 64.528882.6614
(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:

×