SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee extends gains for second straight session

09 Nov 2018 Evaluate

Extending gains for the second straight session, Indian rupee ended considerably stronger against dollar on Friday, on account of selling of American currency by banks and exporters amid softening crude oil prices. Traders took encouragement with Finance Minister Arun Jaitley’s statement that demonetisation helped in tackling black money and expanding the tax base. Demonitisation is a key step in a chain of important decisions taken by the Government to formalise the economy. Traders shrugged off Moody’s Investors Service’s report that Indian economy will expand 7.4% in 2018, but the growth will slow down to 7.3 per cent in the next year as domestic demand tapers on higher borrowing cost due to rising interest rates. On the global front, dollar gained versus the euro and sterling on Friday as the U.S. Federal Reserve kept interest rates steady but reaffirmed its monetary tightening stance, setting the stage for a rate hike in December.

Finally, the rupee ended at 72.50, 50 paise stronger from its previous close of 73.00 on Tuesday. The currency touched a high and low of 72.82 and 72.45 respectively. The reference rate for the dollar stood at 72.73 and for Euro stood at 82.51 on November 9, 2018. While the reference rate for the Yen stood at 63.84, the reference rate for the Great Britain Pound (GBP) stood at 94.87. 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:

×