Indian rupee ended marginally weaker against the American currency on Friday, tracking weaker Asian peers and heavy selloffs in domestic equities. Sentiments were dampened as rating agency CRISIL projected CPI Inflation at 6.4% for fiscal 2021. it said after eight months above the Reserve Bank of India (RBI's) target band of 2-6%, Consumer Price Index (CPI) inflation was finally back in range, declining for the second straight month to a below-consensus 4.6% in December, from 6.9% in November. On the global front, pound rose against the euro on Friday, touching an almost two-month high, after data showed Britain's national lockdown in November was less damaging for the economy than expected.
Finally, the rupee ended at 73.07, 3 paise weaker from its previous close of 73.04 on Thursday. The currency touched a high and low of 73.15 and 72.99 respectively. The reference rate for the dollar stood at 73.12, and for Euro stood 88.86 on January 14, 2021. While the reference rate for the Yen stood at 70.29, the reference rate for the Great Britain Pound (GBP) stood at 99.72.
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: