SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee ends slightly weaker on Thursday

29 Aug 2019 Evaluate

Indian rupee pared most of its early losses but still ended marginally weaker against the American currency on Thursday, due to fresh dollar demand from banks and importers. Traders remain concerned with a private report stating that the Indian economy likely expanded at its slowest pace in more than five years in the April-June quarter, driven by weak investment growth and sluggish demand. Investors also remained on sidelines ahead of gross domestic product (GDP) data for the quarter ended June 30, due tomorrow. The weak trade in the local equity market also weighed on the local unit. On the global front, dollar held gains against the safe-haven yen on Thursday as ebbing recession worries soothed markets after earlier volatility although the pound nursed its losses as investors became increasingly worried about a hard Brexit.

Finally, the rupee ended at 71.80, 3 paise weaker from its previous close of 71.77 on Wednesday. The currency touched a high and low of 72.09 and 71.70 respectively. The reference rate for the dollar stood at 71.70 and for Euro stood at 79.49 on August 28, 2019. While the reference rate for the Yen stood at 67.77, the reference rate for the Great Britain Pound (GBP) stood at  88.02.

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:

×