SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee recovers on dollar selling

19 Dec 2012 Evaluate

Tracking positive local equity markets, Indian rupee recovered against US currency in the late morning session due to selling of American currency by exporters and banks. Moreover, passing of the crucial banking laws Bill, 2011, which will lead more capital infusion into the banking sector, boosted the rupee sentiment. Meanwhile, strengthening of the euro against the dollar overseas on strong Spanish bond auction and upgrade to Greece’s credit rating also supported the local unit.

The partially convertible currency is currently trading at 54.78, stronger by 8 paise from its previous close of 54.86 on Tuesday. The currency has touched a high and low of 54.93 and 54.73 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 54.84 and for Euro it stood at Rs 72.24 on December 18, 2012. While, the RBI’s reference rate for the Yen stood at 65.31, the reference rate for the Great Britain Pound (GBP) stood at 88.9267. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date

1US$

1GBP

December 18, 2012

54.84

88.9267

December 17, 2012

54.62

88.4006

(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:

×