SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee weakens against US dollar on Friday

20 Oct 2023 Evaluate
Indian rupee weakened against the US dollar on Friday amid rising crude oil prices following mounting concerns over the Israel-Gaza conflict. Moreover, weak equity market, foreign fund outflows, a record rise in US Treasury yield and strong American currency overseas also weighed on the rupee sentiments. Foreign Institutional Investors were net sellers in the capital markets as they sold shares worth Rs 1,093.47 crore on Thursday, exchange data showed. Moreover, US Fed Chair Jerome Powell hinted at a longer period of monetary tightening due to higher-than-expected inflation numbers.

The partially convertible currency is currently trading at 83.19, weaker by 6 paise from its previous close of 83.13 on Thursday. The currency touched a high and low of 83.2050 and 83.1650 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:

×