Indian rupee, after taking a breather in the previous session, again resumed southbound journey, tracing the declines in domestic shares after data showing steady core inflation sparked qualms about whether the central bank will lower interest rates this month. Although, India's main inflation gauge, wholesale price index (WPI), came at five months low of 7.25% for the month of June as compared to 7.55% (Provisional) for the previous month, but the core inflation was estimated to have risen 4.85% from a year ago, steady from levels in May. Additionally, losses in the euro on continued concerns about euro zone debt and high peripheral bond yields also hurted demand for emerging assets currencies
Finally the rupee ended at 55.33, weaker by 18 paise from its previous close of 55.15 on Friday. The currency touched a high and low of 55.37 and 54.77 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 54.91 and for Euro it stood at Rs 67.1525 on July 16, 2012. While, the RBI’s reference rate for the Yen stood at 69.51, the reference rate for the Great Britain Pound (GBP) stood at 85.4689. 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: