SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee concludes substantially weaker against dollar

06 Jul 2021 Evaluate

Indian rupee concluded substantially weaker against dollar on Tuesday, on account of sustained dollar demand from importers and banks. Sentiments were fragile as government has decided not to impose anti-dumping on imports of certain copper products, used in the electrical industry, from China, Thailand, Korea and three other countries. Traders were worried despite private report stated that the business resumption activity continued to increase for the sixth straight week after the second wave-induced lockdowns started getting lifted. It noted that the Nomura India Business Resumption Index (NIBRI) rose up to 91.3 for the week ended June 4, from 86.3 the previous week, and is only 8.7 percentage points (pp) below pre-pandemic levels and 3.6 pp below pre-second wave level. On the global front, dollar fell on Tuesday as traders wagered on a patchy U.S. job market holding interest rates low while the rest of the world reopens.

Finally, the rupee ended 74.55, weaker by 24 paise from its previous close of 74.31 on Monday. The currency touched a high and low of 74.62 and 74.25 respectively.

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:

×