Rupee settled lower against dollar on Thursday following a recovery in the American currency. Investors preferred to stay on the sidelines ahead of the Reserve Bank of India's rate decision. Traders ignored India’s services sector data. India’s services sector growth strengthened in the month of September, as a positive demand environment boosted intakes of new business and output volumes. As per the survey report, the seasonally adjusted S&P Global India Services PMI Business Activity Index rose at 61.0 in September from 60.1 in August. Further, the S&P Global India Composite PMI Output Index -- which measures both manufacturing and services -- surged to 61.0 in September as against 60.9 in August. On the global front, the British pound dipped against the U.S. dollar and the euro on Thursday after data showed the biggest slump in UK construction activity since 2020, while a Bank of England survey showed British firms see prices rising more slowly.
Finally, the rupee ended at 83.26 (Provisional), weaker by 2 paisa from its previous close of 83.24 on Wednesday. The currency touched a high and low of 83.30 and 83.16 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: