SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee depreciates against dollar on Thursday

16 Nov 2023 Evaluate

Rupee settled lower against dollar on Thursday due to firm greenback in the overseas markets. Traders were worried as the commerce ministry said India's merchandise trade deficit rose to a record high in October, propelled by a 95 percent increase in gold imports. Investors overlooked reports that foreign institutional investors (FIIs) snapped a 15-session selling streak during the previous session, buying Indian shares worth Rs 550 crore on a net basis. On the global front, the dollar held its ground on Thursday after a volatile two days that saw sharp declines followed by a rebound as traders took incoming economic data as signalling the Federal Reserve will wait longer before cutting interest rates.

Finally, the rupee ended at 83.23 (Provisional), weaker by 14 paise from its previous close of 83.09 on Wednesday. The currency touched a high and low of 83.25 and 83.17 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:

×