SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee depreciates on dollar buying

06 Nov 2017 Evaluate

Indian rupee depreciated against dollar on Monday, due to fresh dollar demand from banks and importers amid foreign fund outflows. Sentiments remained down-beat with a private report highlighting adverse macroeconomic impact of rise in crude oil prices, said every $10 per barrel rise in the price will worsen India’s fiscal balance by 0.1 percent and current account balance by 0.4 percent of GDP. Sentiments were also dampened by lackluster trade in the equity markets. However, dollar’s weakness against some currencies overseas restricted the rupee's fall. On the global front, dollar was little changed on Monday after investors took profits on its best weekly performance this year, with wariness about the status of the US economy and tax reform plans setting the tone.

Finally, the rupee ended at 64.68, 13 paise weaker from its previous close of 64.55 on Friday. The currency touched a high and low of 64.74 and 64.65 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 64.72 and for Euro stood at 75.18 on November 06, 2017. While the RBI's reference rate for the Yen stood at 56.66, the reference rate for the Great Britain Pound (GBP) stood at 84.63. 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:

×