SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee ends marginally weaker on Monday

24 Jul 2017 Evaluate

Indian rupee pared some of its early losses but still ended marginally weaker against the American currency on Monday, due to fresh dollar demand from banks and importers. Traders maintained cautious approach ahead of the US Federal Reserve’s two-day policy meeting that is schedule to begin tomorrow. However, dollar weakness against other currencies overseas and firm domestic equity market limited the rupee’s fall. Meanwhile, investors took note of India Meteorological Department’s (IMD) statement that the cumulative rainfall received till Sunday across the country was 103% of the benchmark long period average (LPA). Both the north-west and central parts of the country have received ‘excess’ rainfall with 116% and 113% of LPA, respectively. In case of the southern peninsula, rainfall has been 91% of LPA, while in the east and the north-east region, rainfall has been 90% of LPA. On the global front, the dollar fell to a 13-month low against a trade-weighted basket of currencies on Monday, weighed down by softening US Treasury yields and weak data that is undermining the case for a further rise in interest rates this year.

Finally, the rupee ended at 64.34, 3 paise weaker from its previous close of 64.31 on Friday. The currency touched a high and low of 64.46 and 64.31 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.44 and for Euro stood at 75.12 on July 24, 2017. While the RBI’s reference rate for the Yen stood at 58.01, the reference rate for the Great Britain Pound (GBP) stood at 83.81. 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:

×