SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee snaps 4-day gaining streak

21 Dec 2018 Evaluate

Snapping its four-day winning streak, Indian rupee ended considerably weaker against dollar on Friday as demand for the American unit from importers and banks picked up. Sentiments turned pessimistic with the central bank’s statement that the total external commercial borrowings (ECB) will now be rule-based and will be capped at 6.5% of the gross domestic product. The limit now works out to be about $160 billion for the current fiscal year, against the actual outstanding of $126.29 billion as on September 30. The central bank already has a rule-based exposure for foreign investors’ exposure in bonds. Foreigners are allowed to invest up to 6% of the outstanding debt. Besides, a sharp sell-off in the domestic stock market put pressure on the rupee. On the global front, dollar hovered near a one-month low against its peers on Friday, weighed down by a subdued outlook towards US interest rates and the economy, while risk aversion in the broader markets boosted the yen.

Finally, the rupee ended at 70.18, 48 paise weaker from its previous close of 69.70 on Thursday. The currency touched a high and low of 70.37 and 69.72 respectively. The reference rate for the dollar stood at 70.03 and for Euro stood at 80.21 on December 21, 2018. While the reference rate for the Yen stood at 62.87, the reference rate for the Great Britain Pound (GBP) stood at 88.70. 

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:

×