SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee snaps three sessions’ depreciating streak on Thursday

04 Jul 2013 Evaluate

Indian rupee, snapping its three-session losing streak, has strengthened against the dollar on increased selling of the US currency by exporters. Besides, strength of domestic equity market and yen's gain against the American currency overseas also helped the rupee to recover.  Additionally, speculation that Unilever Plc will bring in capital to complete a $5.4 billion open offer to boost ownership of its Indian unit, also supported the local currency. The world’s second-biggest consumer goods company, in the last month, received the local regulator’s approval for an offer to raise its stake in Hindustan Unilever to 75% from 52.5%. On the global front, dollar held near a five-week high against a basket of currencies on Thursday, steadying as investors looked to a string of potentially market-moving events, including the European Central Bank's policy review and US payrolls report.

The partially convertible currency is currently trading at 60.03, stronger by 23 paise from its previous close of 60.26 on Wednesday. The currency touched a high and low of 60.12 and 59.91 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at Rs 60.10 and for Euro it stood at Rs 77.95 on July 03, 2013. While, the RBI’s reference rate for the Yen stood at 59.65, the reference rate for the Great Britain Pound (GBP) stood at 91.0703. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date

1US$

1GBP

July 3, 2013

60.10 91.0703

July 2, 2013

59.5390.3813
(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:

×