After a three-day break due to a local holiday, Indian rupee depreciated against dollar on Monday amid increasing month-end demand for the American currency from oil importers. Investors were waiting for RBI's rate decision on Tuesday, as any rate cut is expected to help rupee gains by improving confidence in the economic outlook and potentially increasing foreign flows into stocks. Meanwhile, euro’s weakness against U.S. dollar as traders await Spain's request for a bailout, also pressurized local unit to an extent.
The partially convertible currency is currently trading at 53.79, weaker by 22 paise from its previous close of 53.57 on Thursday. The currency, so far, has touched a high and low of 53.90 and 53.78 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 53.63 and for Euro it stood at Rs 69.7455 on October 25, 2012. While, the RBI’s reference rate for the Yen stood at 66.91 the reference rate for the Great Britain Pound (GBP) stood at 86.1780. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
October 25, 2012 | 53.63 | 86.1780 |
October 23, 2012 | 53.58 | 85.8129 |
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: