Indian rupee ended weaker against the American currency on Thursday, due to fresh dollar demand from banks and importers amid foreign fund outflows. Investors remained concerned with data released by the commerce and industry ministry highlighting that higher inflation in food and fuel products drove India’s Wholesale Price Inflation (WPI) to 3.24% in August from 1.88% in July. Food articles inflation was up 5.75% with that in vegetables at 44.91% and onions at 88.46%. Moreover, fall in the domestic currency was also due to dollar strengthened against some other currencies overseas. On the global front, dollar held steady near a four-week high against yen, with traders looking to US consumer inflation data later in the day for clues on the possible timing of the Federal Reserve’s next rate rise.
Finally, the rupee ended at 64.12, 13 paise weaker from its previous close of 63.99 on Wednesday. The currency touched a high and low of 64.16 and 64.06 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 64.06 and for Euro stood at 76.13 on September 14, 2017. While the RBI's reference rate for the Yen stood at 58.02, the reference rate for the Great Britain Pound (GBP) stood at 84.68. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
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.
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.
MoneyWorks4Me ensures this through: