SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee loses steam tracing negative local equities on Friday

12 Oct 2012 Evaluate

Indian rupee slipped on Friday on account of fresh dollar demand from banks despite its weakness overseas. Indian currency tracing negative local equities also depreciated after some reports suggested that better than expected August IIP figures were not enough to end a long slump in Asia's third largest economy. India’s index of industrial production (IIP), a key measure of industrial output coming at six month high level registered decent growth of 2.7 per cent in August 2012. On the global front, euro rose on Friday but remained well within the week's range as traders’ awaited clarity on when and whether heavily indebted Spain would request a bailout to shore up its finances.

Finally the rupee ended at 52.81, weaker by 14 paise from its previous close of 52.67 on Thursday. The currency has touched a high and low of 52.90 and 52.56 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 52.70 and for Euro it stood at Rs 68.1585 on October 12, 2012. While, the RBI’s reference rate for the Yen stood at 67.21 the reference rate for the Great Britain Pound (GBP) stood at 84.5097. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

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:

×