Indian rupee ended considerably weaker against dollar on Thursday, due to rising crude oil prices and negative sentiment in the domestic equity markets amid concerns over escalating tension in the Middle East. Dollar’s strength against major global currencies overseas also weighed on the domestic unit. Traders remained concerned as exchange data showed Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Tuesday, offloading shares worth Rs 5,579.35 crore on a net basis in the cash segment. Some cautiousness also came as a labour ministry statement said retail inflation for industrial workers inched up marginally to 2.44 per cent in August against 2.15 per cent in July this year. The All-India CPI-IW (Consumer Price Index-Industrial Workers) for August 2024 decreased by 0.1 points and stood at 142.6 points. On the global front, Dollar rallied against Yen on Thursday, as the yen continues to struggle with the idea that the Bank of Japan cannot tighten monetary policy any further.
Finally, the rupee ended at 83.99 (Provisional), depreciated by 17 paise from its previous close of 83.82 on Tuesday. The currency touched a high and low of 83.99 and 83.91 respectively.
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.
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.
MoneyWorks4Me ensures this through: