Indian currency at the start of the fresh week has sinked to a 9 month low tailing the weakness of the equity markets which have drifted lower on capital outflows concerns amidst bleak global outlook. Meanwhile, dollar demand from domestic oil refiners for import payments as well as bunched up outflows following last Friday's local forex and bond markets holiday have also weighed on the local unit. Indian refiners are heaved the demand of the greenback as they are reported to settle all oil debts to Iran by the end of this month. Meanwhile, dollar clawed back ground against the yen on Monday after hitting a historic low last week, as Tokyo upped its rhetoric over the domestic unit and indicated its willingness to intervene to stem its rise.
The partially convertible currency is currently trading at 45.94, weaker by 21 paise from its previous close of 45.73 on Thursday. It has so far touched a high and low of 46.09 and 45.92 respectively. The Reserve Bank of India's reference rate for the dollar stood at 45.6105 and for Euro it stood at 65.6845 on August 18, 2011. While, the RBI's reference rate for the Yen stood at 59.50 and the reference rate for the Great Britain Pound (GBP) stood at 75.3235. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| August 18, 2011 | 45.61 | 75.3235 |
| August 17, 2011 | 45.36 | 74.5580 |
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: