SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee depreciates on increasing dollar demand

04 Jan 2013 Evaluate

Following local equity markets’ weakness, Indian rupee depreciated against dollar in the late morning session amid increased demand for the U.S. currency from importers. Dollar gained against other overseas currencies due to surge in the US debt yields, which pressurized local unit to an extent. However, investors’ expectations of a rate cut later this month, restricted domestic currency’s southward journey. Meanwhile, euro was also trading lower against dollar, touching a new three-week low after US Fed's last meeting, which signals that the Fed looks set to continue buying bonds.

The partially convertible currency is currently trading at 54.85, weaker by 35 paise from its previous close of 54.50 on Thursday. The currency touched a high and low of 54.92 and 54.76 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 54.42 and for euro it stood at Rs 71.49 on January 3, 2013. While, the RBI’s reference rate for the Yen stood at 62.36, the reference rate for the Great Britain Pound (GBP) stood at 88.2888. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date

1US$

1GBP

January 3, 2013

54.4288.2888

January 2, 2012

54.38

88.7574

(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:

×