SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee hits one week low against dollar ahead of inflation data

14 Aug 2012 Evaluate

Indian rupee opened lower on Tuesday and continued to extend the losses against dollar in the late morning session on the back of weak Indian trade data, which widened deficit to $15.5 billion. Sustained dollar demand from oil importers also pressurized domestic currency ahead of July inflation data. Inflation is expected to go up in July as poor monsoon rains drove food prices higher, which will give RBI less room to cut interest rates to revive a flagging economy. Meanwhile, RBI governor said yesterday that rain shortfall in several parts of the country could put pressure on some commodities, which also drifted local unit lower. 

The partially convertible currency is currently trading at 55.73, weaker by 38 paise from its previous close of 55.35 on Monday. The currency, so far, has touched a high and low of 55.76 and 55.49 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 55.41 and for Euro it stood at Rs 68.03 on August 13, 2012. While, the RBI’s reference rate for the Yen stood at 70.79, the reference rate for the Great Britain Pound (GBP) stood at 86.7790. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP

August 13, 2012

55.4186.7790

August 10, 2012

55.34  86.4501
(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: