Indian rupee strengthened against the US dollar on Wednesday, tracking weakness in the American currency as the United States struggled to contain a spike in corona virus cases and dashing hopes for a quick economic recovery. Meanwhile, investors are awaiting Federal Reserve’s policy outcome later in the day. Foreign institutional investors (FIIs) bought shares worth Rs 245.95 crore on Tuesday, exchange data showed. Though, surging corona virus cases globally and Sino-US friction weighed on investor sentiment and capped rupee's gains.
The partially convertible currency is currently trading at 74.74, stronger by 10 paise from its previous close of 74.84 on Tuesday. The currency touched a high and low of 74.8375 and 74.7425 respectively. The reference rate for the dollar stood at 74.76 and for Euro stood at 87.52 on July 27, 2020. While the reference rate for the Yen stood at 70.79, the reference rate for the Great Britain Pound (GBP) stood at 95.89.
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: