SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee trades weak for the third consecutive session

04 Aug 2011 Evaluate

Prolonging its slackness for the third consecutive session Indian rupee is trading weak on Wednesday despite positive local equities. Refiners buying dollars for days to clear dues of about $5 billion to Iran has mainly spooked the local currency sentiment. The payments to Iran had been held up for seven months after the Indian central bank scrapped a clearing mechanism last December. However, even dollar gains overseas have weighed on the local unit. The dollar rose above 79 yen for the first time in two weeks on Thursday as the Bank of Japan intervened in the currency market intermittently to stem the yen's strength.

The partially convertible currency is currently trading at 44.44, weaker by 11 paise from its previous close of 44.31 on Wednesday. It touched a high and low of 44.44 and 44.32 respectively. The Reserve Bank of India's reference rate for the dollar stood at 44.37 and for Euro it stood at 62.87 on August 03, 2011. While, the RBI's reference rate for the Yen stood at 57.50 and the reference rate for the Great Britain Pound (GBP) stood at 72.2054. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
August 03,201144.37 72.2054
August 02,201144.2272.0907

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:

×