SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee strengthens on fresh selling of American currency by exporters and banks

12 Jan 2018 Evaluate

Indian rupee strengthened against the US dollar on Friday on account of fresh selling of the American currency by exporters and banks. Besides, the dollar's weakness against other major currencies on fears that a huge amount of foreign demand for American currency would dry up bolstered the rupee. The rupee improved further ahead of the key consumer price inflation (CPI) and index of industrial production (IIP) data due later today. On the global front, the dollar slumped against rivals on Friday on the back of weak factory inflation data, while the euro enjoyed solid support after the European Central Bank hinted that it could be gearing up to trim its massive monetary stimulus.

The partially convertible currency is currently trading at 63.50, stronger by 16 paise from its previous close of 63.66 on Thursday. The currency touched a high and low of 63.6075 and 63.4650 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 63.73 and for Euro stood at 76.13 on January 11, 2018. While the RBI's reference rate for the Yen stood at 57.03, the reference rate for the Great Britain Pound (GBP) stood at 86.01. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
January 11, 201863.736486.0123
January 10, 201863.826486.2805

(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:

×