SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee weakens to its lowest in more than a year on hawkish RBI minutes

20 Apr 2018 Evaluate

Indian rupee weakened to its lowest in more than a year on Friday after the minutes of the monetary policy panel meeting suggested that they were likely to take a more hawkish tone starting as early as June. The Reserve Bank of India's MPC members flagged several concerns, including an increase in minimum support prices for farmers and high and volatile crude oil prices, the minutes released post market hours on Thursday showed. Further, strengthening of dollar against other currencies overseas and increased demand for the dollar from importers also put pressure on the domestic unit.

The partially convertible currency is currently trading at 66.02, weaker by 22 paise from its previous close of 65.80 on Thursday. The currency touched a high and low of 66.1000 and 66.0000 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.78 and for Euro stood at 81.38 on April 19, 2018. While the RBI’s reference rate for the Yen stood at 61.22, the reference rate for the Great Britain Pound (GBP) stood at 93.41. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date 1US$1GBP
April 19, 201865.783793.4194
April 18, 201865.681493.9835

(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: