Indian rupee weakened against the US dollar on Wednesday weighed down by the rebound in the American currency in global markets and firm crude oil prices. Traders were worried with International Monetary Fund Managing Director (MD) Kristalina Georgieva’s statement that the medium-term growth prospects for the global economy remain weak, and elevated food and fertilizer prices are particularly worrying. Georgieva said inflation could remain higher for longer, requiring even more monetary policy tightening. Investors overlooked the report that Asian Development Bank (ADB) retained forecast for India's economic growth at 6.4 per cent for this fiscal year and 6.7 per cent for the next, as it's bullish that robust domestic demand will continue to support the region's recovery. On the global front, sterling slid on Wednesday after lower-than-expected British inflation data suggested the Bank of England might not have to raise rates quite as high as had been expected, while the latest dovish comments from the Bank of Japan caused the yen to soften.
Finally, the rupee ended at 82.10 (Provisional), weaker by 6 paise from its previous close of 82.04 on Tuesday. The currency touched a high and low of 82.15 and 82.07 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: