Indian rupee shed most of its early gain but still managed to end marginally higher against the American currency on Thursday, due to selling of the US currency by exporters and banks. Traders took some support as the revival of the Indian economy from the impasse of global pandemic gains momentum with the nationwide rapid COVID vaccination drive. However, upside remained capped as India, the world's third-largest energy consumer and importer, warned of high oil prices hurting the nascent and fragile global economic recovery. Besides, losses in the local equity markets also dampened sentiments. On the global front; sterling dipped below one-month highs on Thursday, tracking a similar move in risk-oriented currencies that lost some momentum against the dollar after a rally fuelled by rising prices for commodities.
Finally, the rupee ended 74.87, stronger by 1 paise from its previous close of 74.88 on Wednesday. The currency touched a high and low of 74.89 and 74.69 respectively.
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: