SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee extends weakness for second straight session

03 Jan 2020 Evaluate

Extending weakness for the second day, Indian rupee ended considerably lower against dollar on Friday, as good demand for the greenback from importers. Traders remain concerned with a private report indicating that India's real GDP growth would weaken further in Q3 of the financial year due to slow economic activity in the first two months of the second half and the GDP for FY20 could be around 4.5%. Some pessimism also came with think-tank Centre for Monitoring Indian Economy (CMIE) stated that India's unemployment rate increased to 7.7% in December, slightly higher than 7.48% reported in the previous month. Also, weak trade in the local equity market and rising crude oil prices kept pressure on the Indian rupee. On the global front, Sterling pound fell against the US dollar on Friday as tensions between the US and Iran escalated overnight and investors dumped riskier assets such as the pound.

Finally, the rupee ended at 71.80, 42 paise weaker from its previous close of 71.38 on Thursday. The currency touched a high and low of 71.81 and 71.52 respectively. The reference rate for the dollar stood at 71.34 and for Euro stood at 79.93 on January 2, 2020. While the reference rate for the Yen stood at 65.61, the reference rate for the Great Britain Pound (GBP) stood at 94.25.

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: