SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee recovers against dollar amid cautious trade

07 Jun 2013 Evaluate

Indian rupee recovered against greenback on Friday amid dollar selling by exporters and some banks. Weakening of dollar against euro and yen in the global market ahead of the release of US employment data for May and the European Central Bank and the Bank of England both keeping monetary policy unchanged, also supported rupee. Positive local equity markets also helped rupee to hold gains. However, huge external debt and corporate liabilities along with importers' dollar demand restricted the local unit’s gain.

The partially convertible currency is currently trading at 56.76, stronger by 8 paise from its previous close of 56.84 on Thursday. The currency touched a high and low of 56.84 and 56.69 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at Rs 56.86 and for Euro it stood at Rs 74.51 on June 6, 2013. While, the RBI’s reference rate for the Yen stood at 57.37, the reference rate for the Great Britain Pound (GBP) stood at 87.6465. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date

1US$

1GBP

June 6, 2013

56.86 87.6465

June 5, 2013

56.42 86.5372

(RBI-Reference rate)

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:

×