SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee weakens on strengthening American currency

02 Jan 2019 Evaluate

Indian rupee weakened against the US dollar on Wednesday amid strengthening of the American currency and lower opening in domestic equities. Further, sustained foreign fund outflows also weighed on the domestic unit. Foreign funds pulled out Rs 48.19 crore from the capital markets on a net basis, while domestic institutional investors bought shares worth Rs 142.58 crore on Tuesday, provisional data showed. However, lower crude oil prices capped the rupee’s losses. On the global front, the dollar eased against the yen on Wednesday as caution prevailed on the first trading day of the New Year on wider concerns about global economic growth, the US government shutdown and a slower pace of Federal Reserve rate hikes.

The partially convertible currency is currently trading at 69.67, weaker by 24 paise from its previous close of 69.43 on Tuesday. The currency touched a high and low of 69.7150 and 69.5500 respectively. The reference rate for the dollar stood at 69.71 and for Euro stood at 79.93 on January 1, 2019. While the reference rate for the Yen stood at 63.57, the reference rate for the Great Britain Pound (GBP) stood at 88.97.

Date1US$1GBP
January 01, 201969.713188.9748
December 31, 2018 69.792388.5488

(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:

×