SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee depreciates considerably against greenback

31 Aug 2020 Evaluate

Rupee ended substantially weaker against dollar on Monday on account of continued dollar demand from importers and banks. Sentiments remained fragile with private report stating that Chinese troops 'carried out provocative military movements in Eastern Ladakh to change the status quo' but they were blocked by Indian soldiers. Adding pessimism, anther private report stated that India's fiscal deficit is expected to touch 7 percent of GDP in 2020-21 fiscal as against budget estimate of 3.5 per cent, with revenue collections being hit amid disruptions in economic activities due to lockdowns. Heavy selling in domestic equities also aided the negative trend in the local unit. On the global front; dollar was set for a fourth straight month of losses on Monday after a U.S. Federal Reserve policy shift on inflation, while the euro was poised to post a fourth month of gains, taking both currencies to levels last seen in 2018.

Finally, the rupee ended at 73.60, 21 paise weaker from its previous close of 73.39 on Friday. The currency touched a high and low of 73.80 and 73 .25 respectively. The reference rate for the dollar stood at 73.35 and for Euro stood 87.06 on August 28, 2020. While the reference rate for the Yen stood at 69.03, the reference rate for the Great Britain Pound (GBP) stood at 97.28.

Redington Share Price

234.90 6.90 (3.03%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Redington 234.90
Adani Enterprises 2218.35
Amrapali Industries 17.53
Rashi Peripheral 455.25
PDS 301.45
View more..

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:

×