SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee erases early gains against dollar amid weak local equities

08 Jan 2013 Evaluate

After opening higher, Indian rupee erased all gains and is currently trading lower against dollar in the late morning session, following weak local equity markets. Increasing dollar demand from importers and banks pressurized the local unit to an extent. However, continued capital inflows from the foreign institution and strengthening of euro against the US currency overseas are limiting the downfall.

The partially convertible currency is currently trading at 55.29, weaker by 6 paise from its previous close of 55.23 on Monday. The currency touched a high and low of 55.37 and 55.06 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 54.97 and for euro it stood at Rs 71.66 on January 7, 2013. While, the RBI’s reference rate for the Yen stood at 62.67, the reference rate for the Great Britain Pound (GBP) stood at 88.1077. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date

1US$

1GBP

January 7, 2013

54.9788.1077

January 4, 2012

54.84

88.1646

(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:

×