SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee weakens on fresh demand for American currency from importers

24 Jul 2018 Evaluate

Indian rupee weakened against the US dollar on Tuesday, hurt by fresh demand for the American currency from importers. Besides, dollar's firmness against some currencies overseas too weighed on the domestic currency. However, a higher opening of the stock market capped the rupee's fall. On the global front, the dollar ticked up slightly on Tuesday, adding to gains made in overnight trade after US Treasury yields rose on expectations the Federal Reserve would persist with its rate hikes this year.

The partially convertible currency is currently trading at 69.00, weaker by 14 paise from its previous close of 68.86 on Monday. The currency touched a high and low of 69.01 and 68.90 respectively. The reference rate for the dollar stood at 68.70 and for Euro stood at 80.56 on July 23, 2018. While the RBI’s reference rate for the Yen stood at 61.93, the reference rate for the Great Britain Pound (GBP) stood at 90.27. 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: