Reversing previous session drubbing, Indian rupee appreciated significantly against dollar on Wednesday, owing to dollar sale by exporters and banks and positive domestic equities. Some support came in as Reserve Bank of India (RBI) further liberalised norms to boost inflows of foreign exchange, including doubling the borrowing limit under the ECB route, amid the rupee falling against the US dollar. Additional support came as FII’s stood as net buyers after a long time. Foreign institutional investors (FIIs) turned net buyers for the first time since May 30, buying shares worth Rs 1,295.84 crore on July 5, as per provisional data available on the NSE. On the global front, pound steadied on Wednesday against dollar as British Prime Minister Boris Johnson clung to power after key cabinet members quit unexpectedly.
Finally, the rupee ended at 78.94 (provisional), stronger by 39 paisa from its previous close of 79.33 on Tuesday. The currency touched a high and low of 79.37 and 78.94 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: