SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee pares early gains as RBI keeps policy rates unchanged

30 Oct 2012 Evaluate

After negative opening and subsequent recovery, Indian rupee again erased all early gains in the late morning session on Tuesday as the Reserve Bank of India (RBI) kept key policy rates unchanged in the second quarter review of monetary policy 2012-13. Meanwhile, central bank has slashed cash reserve ratio (CRR) of scheduled banks by 25 basis points from 4.50 per cent to 4.25 per cent, which would inject Rs 17,500 crore of primary liquidity into the banking system. Increasing dollar demand from importers also pressurized local unit to an extent.

The partially convertible currency is currently trading at 54.16, weaker by 8 paise from its previous close of 54.08 on Monday. The currency, so far, has touched a high and low of 54.20 and 53.86 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 53.80 and for Euro it stood at Rs 69.4965 on October 29, 2012. While, the RBI’s reference rate for the Yen stood at 67.51 the reference rate for the Great Britain Pound (GBP) stood at 86.5209. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP

October 29, 2012

53.8086.5209

October 25, 2012

53.6386.1780
(RBI-reference rate)

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:

×