SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee witnesses significant fall on Friday amid coronavirus scare

03 Apr 2020 Evaluate

Indian rupee witnessed significant fall against the US dollar on Friday, as investors braced for a prolonged period of uncertainty amid coronavirus cases witnessed a sharp rise across the world and in India. Traders remained wary as Fitch Solutions stated that India's fiscal deficit in 2020-21 may shoot up to 6.2% of the GDP from 3.5% government estimate as a fallout of the Covid-19 economic stimulus package. Some cautiousness also came as the Asian Development Bank (ADB) said that India's economic growth is likely to slow down to 4 per cent this fiscal on the back of the current global health emergency. Strengthening of the American currency in the overseas market also added to the woes of the Indian currency. On the global front, dollar resumed its climb against major currencies on Friday as investors took refuge in safety bids amid worsening economic fallout from the coronavirus pandemic.

The last traded price of rupee was 76.13, 53 paise weaker from its previous close of 75.60 on Tuesday. The currency touched a high and low of 76.17 and 75.79 respectively. The reference rate for the dollar stood at 75.38 and for Euro stood at 83.04 on March 31, 2020. While the reference rate for the Yen stood at 69.65, the reference rate for the Great Britain Pound (GBP) stood at 93.07. 

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:

×