Indian rupee ended weak on Friday as banks stocked up the greenback for defence-related purchases on behalf of oil importing companies. Further, losses in regional counterparts and weak closing of local equities too spooked the sentiments. However, weakness of the dollar overseas provided a ceiling to the losses of the local currency. On the global front, the dollar fell to a four-month low against the yen and hovered near record lows versus the Swiss franc on Friday, while the euro came under fresh pressure as debt jitters on both sides of the Atlantic drove edgy investors towards safe-haven currencies.
Finally the rupee ended at 44.18/19, weaker by 10 paise from its previous close of 44.08 on Thursday. The Reserve Bank of India's reference rate for the dollar stood at 44.15 and for Euro it stood at 63.10 on July 29, 2011. While, the RBI's reference rate for the Yen stood at 56.95 and the reference rate for the Great Britain Pound (GBP) stood at 72.10. 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: