SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee depreciates against dollar on Thursday

14 Sep 2023 Evaluate

Rupee settled lower against dollar on Thursday weighed down by a surge in crude oil prices and strong American currency overseas. Traders took note of report that India’s inflation based on wholesale price index (WPI) remained in the negative territory for the fifth straight month in August 2023 at (-) 0.52% as against (-) 1.36% recorded in July 2023. The negative rate of inflation in August is primarily due to fall in prices food products. Investors overlooked reports that Fitch Ratings retained India’s growth forecast for the current fiscal at 6.3 per cent saying the Indian economy continues to show resilience despite tighter monetary policy and weakness in exports, but upped year-end inflation projection on EI Nino threat. On the global front, sterling was a touch softer but held above this week's three-month lows against the dollar on Thursday, having recovered some ground after a selloff in the previous session following weak UK economic data.

Finally, the rupee ended at 83.03 (Provisional), weaker by 2 paisa from its previous close of 83.01 on Wednesday. The currency touched a high and low of 83.04 and 82.93 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: