Indian rupee weakened against the US dollar on Tuesday due to the strengthening of the American currency. Rupee sentiment fell further on increased demand for the US currency from importers amid sustained foreign fund outflows. Furthermore, lower trading of domestic equity market, also weighed on the rupee. On the global front, the Japanese yen, a safe haven in uncertain times, firmed against the dollar on Tuesday, as the euro and sterling suffered due to doubts over Italy’s budget spending and over British Prime Minister Theresa May’s future with Brexit talks stalled.
The partially convertible currency is currently trading at 73.75, weaker by 19 paise from its previous close of 73.56 on Monday. The currency touched a high and low of 73.8250 and 73.7300 respectively. The reference rate for the dollar stood at 73.30 and for Euro stood at 84.57 on October 22, 2018. While the reference rate for the Yen stood at 65.02, the reference rate for the Great Britain Pound (GBP) stood at 95.93. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| October 22, 2018 | 73.3025 | 95.9305 |
| October 19, 2018 | 73.4354 | 95.6525 |
(Reference Rate)
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: