SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee ends higher against dollar on Tuesday

30 Jul 2024 Evaluate

Indian rupee ended higher against the U.S. dollar on Tuesday amid a positive trend in domestic markets ahead of the US Fed policy announcement. Investors got support after economic think tank NCAER said the Indian economy could grow higher than 7 per cent and possibly closer to 7.5 per cent in the current fiscal on the back of normal monsoon and receded electoral uncertainty. Besides, Executive Director at the International Monetary Fund (IMF) Krishnamurthy Subramanian stated that reduction of corporate tax from 40 per cent to 35 per cent in the 2024 Indian Budget and removal of Angel Tax are among the measures that will promote India-US economic engagement. On the global front, Japanese yen weakened on Tuesday as traders had some last minute doubts about whether the Bank of Japan would hike rates this week, while other majors held steady with Bank of England and Federal Reserve meetings also in focus.

Finally, the rupee ended at 83.72 (Provisional), stronger by 1 paisa from its previous close of 83.73 on Monday. The currency touched a high and low of 83.74 and 83.71 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: