SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee weakens against US dollar on Thursday

16 May 2024 Evaluate
Indian rupee weakened against the US dollar on Thursday, tracking sluggish domestic equities in line with sustained foreign fund outflows and elevated crude oil prices. Foreign Institutional Investors were net sellers in the capital markets on Wednesday, as they offloaded shares worth Rs 2,832.83 crore, exchange data showed. However, recent US CPI and retail sales data indicated that inflation is resuming its downward trend and raised expectations that the US Federal Reserve would cut interest rates two times this year. Weakness in the American currency has restricted rupee’s fall.

The partially convertible currency is currently trading at 83.50, weaker by 4 paise from its previous close of 83.46 on Wednesday. The currency touched a high and low of 83.50 and 83.4450 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:

×