SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee settles higher against US dollar as RBI hikes repo rate

04 May 2022 Evaluate

Indian rupee ended higher against dollar on Wednesday due to fresh selling of the American currency by banks and exporters following RBI's surprise rate hike ahead of the US Federal Reserve's policy decision. The RBI on Wednesday after an unscheduled MPC meeting hiked the benchmark lending rate by 40 basis points (bps) to 4.40 per cent to contain inflation that has remained stubbornly above the target of 6 per cent for the last three months. Some support also came as India’s merchandise exports in April grew 24.2 per cent year-on-year to their third-highest level ever of $38.2 billion on the back of higher commodity prices amid the ongoing Russia-Ukraine war. However, upside remain capped as the International Monetary Fund (IMF) said India may only become a $5-trillion economy in FY29. On the global front, dollar index pulled further away from 20-year highs on Wednesday, having already priced the U.S. Federal Reserve to raise interest rates by a half-point later in the day and by some 250 basis points (bps) by year-end.

Finally, the rupee ended at 76.42 (Provisional), stronger by 6 paise from its previous close of 76.48 on Monday. The currency touched a high and low of 76.58 and 76.17 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:

×