Indian rupee erased all gains made earlier in the day and closed little changed against the US dollar on Tuesday as US-Iran tensions rise. Traders took a note of Former Vice Chairman of NITI Aayog, Arvind Panagariya’s statement that India's economy needs to grow at 8-10 per cent annually if good jobs have to be provided to those joining the workforce, emphasising that an export-led growth is very critical for creation of good jobs in the country. On the global front, U.S. dollar fell to a three-month low against the euro and dropped to its weakest against the Japanese yen since early January as the prospect of monetary easing by the Federal Reserve knocked demand for the U.S. currency.
Finally, the rupee ended at 69.36, 1 paise weaker from its previous close of 69.35 on Monday. The currency touched a high and low of 69.40 and 69.22 respectively. The reference rate for the dollar stood at 69.47 and for Euro stood at 79.11 on June 24, 2019. While the reference rate for the Yen stood at 64.68, the reference rate for the Great Britain Pound (GBP) stood at 88.68.
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: