SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee ends lower against greenback on Thursday

16 May 2024 Evaluate

Indian rupee ended lower on Thursday, weighed down by unabated foreign fund outflows amid investors' weak appetite for riskier assets. Traders were cautious with a private report stating that the Reserve Bank of India may delay the expected policy interest rate cuts, but strong demand for bonds from long-term investors such as retirement funds and insurers will ensure that market interest rates are low, especially for the top-rated borrowers. On the global front, dollar skidded to multi-month lows on Thursday after U.S. core inflation hit its slowest in three years, pulling forward expectations for rate cuts in the world's biggest economy and drawing bets that the U.S. currency may have peaked, for now.

Finally, the rupee ended at 83.50 (Provisional), weaker by 4 paise from its previous close of 83.46 on Wednesday. The currency touched a high and low of 83.50 and 83.44 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:

×