SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee strengthens against dollar on Thursday

10 Aug 2023 Evaluate

Indian rupee appreciated against the dollar on Thursday after the Reserve Bank left its key interest rates unchanged. The Reserve Bank of India (RBI) has decided to keep policy rate unchanged for third time in a row as it maintains heightened vigil on inflation. The rate increase cycle was paused in April after six consecutive rate hikes aggregating to 250 basis points since May 2022. It also directed banks to maintain incremental cash reserve ratio (ICRR) at 10 per cent, August 12 onwards, in order to reduce liquidity from the system. On the global front, rouble weakened on Thursday, heading back towards a more than 16-month low against the dollar following a slight pause in its depreciation trend after the Bank of Russia had intervened in the FX market to try and stabilise its currency.

Finally, the rupee ended at 82.66 (Provisional), stronger by 19 paise from its previous close of 82.85 on Wednesday. The currency touched a high and low of 82.86 and 82.66 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:

×