SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee depreciates against dollar on Friday

19 Jun 2020 Evaluate

Indian rupee ended weaker against dollar on Friday, on emergence of demand for the greenback from importers. Investors’ sentiment remained fragile as the Asian Development Bank (ADB) in a supplement to its Asian Development Outlook (ADO) has forecasted that the Indian economy is expected to contract by 4% during the current financial year, hit hard by the COVID-19 pandemic. However, downside remained capped as gains in domestic equity markets provided some support to the rupee. On the global front, Sterling rose slightly on Friday after hitting almost three-week lows as retail sales rebounded in May more strongly than hoped with the country gradually relaxing its coronavirus lockdown.

Finally, the rupee ended at 76.20, 6 paise weaker from its previous close of 76.14 on Thursday. The currency touched a high and low of 76.29 and 76.17 respectively. The reference rate for the dollar stood at 76.15 and for Euro stood at 85.69 on June 18, 2020. While the reference rate for the Yen stood at 71.21, the reference rate for the Great Britain Pound (GBP) stood at 95.58.

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:

×