Indian rupee depreciated to a week’s low level in early deals on Thursday tracing the sluggish local equities after Trinamool Congress, key ally of the country's ruling coalition, withdrew its support in protest against the government move of hiking diesel price hike and opening up the multi-brand retail sector. Meanwhile, feeble regional counterparts coupled with increased demand from oil importers, also weighed on the Indian currency. On the global front, Euro fell against the dollar and yen before data today forecast to show European services and manufacturing contracted, thereby adding to evidence that the region’s debt crisis is sapping growth.
The partially convertible currency is currently trading at 54.30, weaker by 30 paise from its previous close of 54.00 on Tuesday. The currency has so far touched a high and low of 54.41 and 54.23 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 54.25 and for Euro it stood at Rs 71.033 on September 18, 2012. While, the RBI’s reference rate for the Yen stood at 68.99, the reference rate for the Great Britain Pound (GBP) stood at 88.1459. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
September 18, 2012 | 54.25 | 88.1459 |
September 17, 2012 | 53.97 | 87.5242 |
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: