SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee slips for second day on Wednesday

29 May 2019 Evaluate

Indian rupee continued to slip for the second consecutive session against the US dollar on Wednesday on increased demand for the greenback from importers and banks. Traders remain concerned about the Department for Promotion of Industry and Internal Trade’s (DPIIT) latest data showing that foreign direct investment (FDI) in India declined for the first time in the last six years in 2018-19, falling by 1 per cent to $44.37 billion as compared to $44.85 billion in 2017-18. Besides, strength in dollar against some major rival currencies and heavy selling in domestic equities also kept pressure on the Indian rupee. However, easing crude oil prices supported the rupee and restricted the downfall. On the global front, Japanese yen firmed to a two-week high versus the dollar on Wednesday as concerns of a further escalation in the trade conflict between the United States and China prompted investors to rush to perceived safe-haven assets.

Finally, the rupee ended at 69.83, 14 paise weaker from its previous close of 69.69 on Tuesday. The currency touched a high and low of 69.99 and 69.72 respectively. The reference rate for the dollar stood at 69.61 and for Euro stood at 77.85 on May 29, 2019. While the reference rate for the Yen stood at 63.59, the reference rate for the Great Britain Pound (GBP) stood at 88.27.

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:

×