Indian rupee weakened and breached the crucial 71 mark against the dollar mark on Tuesday amid sustained foreign fund outflows and surging crude oil prices. Foreign funds pulled out Rs 732.46 crore from the capital markets on a net basis, while domestic institutional investors purchased shares worth Rs 527.49 crore Monday, provisional data showed. Though, firm trading in domestic equities after government data revealed that retail inflation dropped to an 18-month low of 2.19 percent in December 2018, creating headroom for the RBI to cut interest rate in its monetary policy review next month, capped rupee’s losses. On the global front, the dollar weakened on Tuesday on heightened expectations the Federal Reserve will hold off on raising rates this year due to a slowdown in global growth, while sterling edged up ahead of Britain’s parliamentary vote on its Brexit plan.
The partially convertible currency is currently trading at 71.00, weaker by 8 paise from its previous close of 70.92 on Monday. The currency touched a high and low of 71.0250 and 70.7500 respectively. The reference rate for the dollar stood at 70.82 and for Euro stood at 81.24 on January 14, 2019. While the reference rate for the Yen stood at 65.50, the reference rate for the Great Britain Pound (GBP) stood at 90.96.
| Date | 1US$ | 1GBP |
| January 14, 2019 | 70.8244 | 90.9640 |
| January 11, 2019 | 70.4737 | 89.9155 |
(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: