Tracking weakness in local equity markets, India rupee plunged against dollar as investors were worried about crisis looming over the US and European economy post US presidential election, which made American currency a safe haven. Dollar’s strengthening against the euro overseas and dollar demand by the importers was pressurizing local unit to an extent. Meanwhile, euro fell against dollar on Thursday ahead of European Central Bank meeting, which will be next key trading peg after the US presidential election.
The partially convertible currency is currently trading at 54.48, weaker by 28 paise from its previous close of 54.20 on Wednesday. The currency, so far, has touched a high and low of 54.66 and 54.43 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 54.25 and for Euro it stood at Rs 69.83 on November 7, 2012. While, the RBI’s reference rate for the Yen stood at 67.77 the reference rate for the Great Britain Pound (GBP) stood at 87.0039. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
November 7, 2012 | 54.25 | 87.0039 |
November 6, 2012 | 54.59 | 87.3091 |
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: