SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee slips into red as RBI leave rates unchanged

18 Jun 2012 Evaluate

Supported by firm local equity markets, Indian rupee opened higher, as dollar weakened against other overseas currencies. Euro increased against the American currency overseas as Greece's two main pro-bailout parties clinched enough votes to form a government, supported the rupee to a great extent. Meanwhile, central bank decided to keep the repo rate and the CRR unchanged in its mid-quarter policy review. Central bank left repo rate unchanged at 8% and cash reserve ratio at 4.75%. Rupee along with domestic shares shifted below neutral line as the move of central bank was against market expectation. Slowing growth looked-for at least a 50-basis-point rate cut but Inflation remains a concern.

The partially convertible currency is currently trading at 55.61, weaker by 11 paise from its previous close of 55.50 on Friday. It has touched a high and low of 55.61 and 55.34 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 55.76 and for Euro it stood at Rs 70.44 on June 15, 2012. While, the RBI’s reference rate for the Yen stood at 70.69, the reference rate for the Great Britain Pound (GBP) stood at 86.6892. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP

June 15, 2012

55.7686.6892

June 14, 2012

55.79 86.3719
(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:

×