SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee ends higher for third straight session on Thursday

15 Feb 2018 Evaluate

Exhibiting strength against the dollar for the third straight day, Indian rupee ended higher on Thursday on continued selling of the greenback. Sentiments remained optimistic on report that Inflation based on wholesale prices eased to a six-month low of 2.84% in January on cheaper food articles even as vegetable prices continued to rule high. Calculated on the basis of Wholesale Price Index (WPI), the inflation was 3.58% in December 2017 and 4.26% in January 2017. Some support also came with private report stating that the RBI’s revised framework for quicker and time-bound resolution of stressed assets is a long-term positive for banks. The report stated that the new framework has the potential to bring about a big change in the approach of banks to monitor their exposures and resolution of NPAs. Besides, a muted show by the dollar against other currencies overseas also supported the rupee’s uptrend. On the global front, dollar lost further ground against yen on Thursday, hitting new 15-month lows, after US consumer price data for January fueled worries about accelerating inflation in the country.

Finally, the rupee ended at 63.91, 17 paise stronger from its previous close of 64.08 on Wednesday. The currency touched a high and low of 63.98 and 63.86 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.92 and for Euro stood at 79.67 on February 15, 2018. While the RBI’s reference rate for the Yen stood at 60.05, the reference rate for the Great Britain Pound (GBP) stood at 89.54. 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: