Indian rupee weakened against the US dollar on Monday tracking weakness in domestic equities ahead of the US Federal Reserve meeting later this week, with expectations that the US Fed will soon start withdrawing liquidity and start hiking rates later this year. Further, elevated crude oil prices and foreign fund outflows also weighed on investor sentiments. Foreign institutional investors (FIIs) remained net sellers in the capital market as they offloaded shares worth Rs 3,148.58 crore on Friday, exchange data showed. On the global front, the US dollar firmed marginally with traders nervous about tensions in Ukraine and a possible hawkish tilt by the US Federal Reserve at a much-watched meeting this week.
The partially convertible currency is currently trading at 74.58, weaker by 15 paise from its previous close of 74.43 on Friday. The currency touched a high and low of 74.5950 and 74.4250 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: