SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee recovers against dollar on foreign inflows

21 Sep 2012 Evaluate

Supported by positive local equity markets, Indian rupee recovered against U.S. dollar on Friday, amid increased foreign fund inflows. Dollar weakening against euro in overseas markets also supported local unit to an extent. The government’s firmness on its decision to allow FDI in multi-brand retail sector also aided rupee to recover from the lower levels. However, month end dollar demand from importers restricted domestic currencies’ upward movement. Meanwhile, investors were trading with buoyancy on the back of monetary easing measures by central banks of the US, Europe and Japan.

The partially convertible currency is currently trading at 53.88, stronger by 51 paise from its previous close of 54.39 on Thursday. The currency has so far touched a high and low of 54.20 and 53.81 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 54.34 and for Euro it stood at Rs 70.5725 on September 20, 2012. While, the RBI’s reference rate for the Yen stood at 69.49, the reference rate for the Great Britain Pound (GBP) stood at 87.9072. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP

September 20, 2012

54.34 87.9072

September 18, 2012

54.25 88.1459
(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:

×