SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee depreciates against dollar on Friday

28 Jul 2023 Evaluate

Rupee settled lower against dollar on Friday amid renewed foreign fund outflows and negative trends in domestic equity markets. Traders were worried amid a private report stating that the changing inflation dynamics mean that the RBI (Reserve Bank of India) will likely raise its 2023-24 inflation forecast at the August 10 policy meeting, where it expects a hawkish hold. Besides, another reports stated that vegetable prices in India are set to stay higher for longer, as erratic monsoon rains delayed planting and damaged ripening crops. On the global front, the pound edged higher on Friday but hovered near two-week lows after a string of central bank decisions this week reinforced expectations that the Bank of England will not deliver another jumbo rate hike next week. 

Finally, the rupee ended at 82.24 (Provisional), weaker by 32 paise from its previous close of 81.92 on Thursday. The currency touched a high and low of 82.34 and 82.19 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:

×