SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee settles lower against dollar on Thursday

13 Jun 2024 Evaluate

Indian rupee settled lower on Thursday even as both the domestic equity benchmark indices touched all-time high levels. Sentiments were down beat as India’s industrial production growth measured in terms of the Index of Industrial Production (IIP) slipped to 3-month low of 5 per cent in April 2024, as compared with a revised estimate of 5.4% in March, mainly due to poor show by the manufacturing sector, though mining and power segments performed well. Investors overlooked the report that Consumer Price Index (CPI) based retail inflation continued its downward slide to reach 12-month low of 4.75 per cent in May as compared to 4.83 per cent in April 2024, due to a marginal decline of prices in the food basket. On the global front, the dollar edged up on Thursday, recovering some of the losses sparked by softer than expected U.S. inflation data on Wednesday, after the Federal Reserve forecast just one rate cut this year.

Finally, the rupee ended at 83.54 (Provisional), weaker by 6 paise from its previous close of 83.48 on Wednesday. The currency touched a high and low of 83.55 and 83.51 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: