SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee spurts with Fed Chairman’s vow of keeping the borrowing costs at lower levels

10 Aug 2011 Evaluate

Halting six consecutive session’s slide, Indian rupee is drawing comfort from the surge of the local equities and has gained some momentum against the US dollar on Wednesday. Renewed selling of dollars by banks and exporters on the back of dollar weakness in overseas markets mainly boosted the rupee sentiment. The US dollar broadly weakened owing to the improving risk appetite across the globe after Federal Reserve pledged to keep interest rates super low for the next two years in order to help the ailing US economy.

The partially convertible currency is currently trading at 45.12, stronger by 9 paise from its previous close of 45.21 on Tuesday. It touched a high and low of 45.14 and 44.95 respectively. The Reserve Bank of India's reference rate for the dollar stood at 45.17 and for Euro it stood at 64.25 on August 09, 2011. While, the RBI's reference rate for the Yen stood at 58.42 and the reference rate for the Great Britain Pound (GBP) stood at 73.7157. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
August 09,201145.17 73.7157
August 08,201144.96 73.9423

RBI-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:

×