SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee depreciates against dollar on Thursday

28 Mar 2024 Evaluate

Rupee ended lower on Thursday due to a strengthening greenback against major rivals overseas and rising crude oil prices in the international markets. Traders ignored Union Finance Minister Nirmala Sitharaman’s statement that government will continue the push on its reforms agenda in its third term since political continuity, along with a predictable and stable economic environment and taxation structure, is important to achieve the laid-down developmental goals. Meanwhile, Chairman of the 16th Finance Commission Arvind Panagariya said that India can realistically push its economic growth close to 9 per cent from the current 7 per cent or so, by implementing a few more reforms in the next five years. On the global front, the yen languished near its weakest in decades on Thursday though the threat of intervention from Japanese authorities kept investors leery of pushing the currency to a new low.

Finally, the rupee ended at 83.38 (Provisional), weaker by 5 paise from its previous close of 83.33 on Wednesday. The currency touched a high and low of 83.40 and 83.30 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: