Reversing previous session’s losses, Indian rupee staged a smart recovery against dollar on Friday, following dollar selling from banks and exporters. Traders took encouragement with Commerce Minister Suresh Prabhu’s statement that India's merchandise and services export would touch $540-billion mark this fiscal. He said exports are growing at a healthy pace and shipments of goods would reach over $330 billion. Similarly, services exports would touch about $200 billion. The weakening of the US dollar against some currencies overseas supported the local unit, however rising crude oil prices capped the gains. On the global front, euro on Friday was headed for its worst month since October, weighed down by fears about economic growth and cautious signals from the European Central Bank.
Finally, the rupee ended at 69.14, 16 paise stronger from its previous close of 69.30 on Thursday. The currency touched a high and low of 69.32 and 69.04 respectively. The reference rate for the dollar stood at 69.17 and for Euro stood at 77.70 on March 29, 2019. While the reference rate for the Yen stood at 62.52, the reference rate for the Great Britain Pound (GBP) stood at 90.47.
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: