SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee depreciates against US dollar on Friday

18 Oct 2024 Evaluate

Indian rupee depreciated against the US dollar on Friday. Traders were cautious as a report by the State Bank of India (SBI) stated that India's imported inflation reached a 13-month high in September 2024, growing by 2 per cent. Some concern also came as exchange data showed Foreign Institutional Investors (FIIs) offloaded equities worth Rs 7,421.40 crore on Thursday. Investors overlooked the report that direct tax collections have surged 182 per cent to over Rs 19.60 lakh crore in 2023-24 in the 10-year period of Prime Minister Narendra Modi-led government. On the global front, US Dollar turned flat to a touch softer on Friday with some profit-taking after steep rallies against many major G20 currencies this week. The slight retracement comes on the back of Chinese economic data and more details on the stimulus package the Chinese government is rolling out.

Finally, the rupee ended at 84.07 (Provisional), depreciated by 1 paisa from its previous close of 84.06 on Thursday. The currency touched a high and low of 84.07 and 84.06 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:

×