SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee pares early gains against US currency

18 Jul 2012 Evaluate

Hurt by volatile local equity markets, Indian rupee pared all its early gains against American currency on the back of increasing dollar demand from oil importers. Rupee opened higher against dollar on Wednesday, following euro's strength after the Federal Reserve chief said the central bank would support the US economy if needed. Meanwhile, investors were still looking at cues for further monetary stimulus measures in the two-day Congressional testimony of the US Federal Reserve Chairman. However India's trade deficit widened to $180 billion for the full year ending in April.

The partially convertible currency is currently trading at 55.34, weaker by 22 paise from its previous close of 55.12 on Tuesday. It has touched a high and low of 55.34 and 55.02 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 55.14 and for Euro it stood at Rs 67.7260 on July 17, 2012. While, the RBI’s reference rate for the Yen stood at 69.88, the reference rate for the Great Britain Pound (GBP) stood at 86.2972. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP

July 17, 2012

55.1486.2972

July 16, 2012

54.91   85.4689
(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:

×