SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee weakens against US dollar on Tuesday

05 Nov 2024 Evaluate
Indian rupee weakened against the US dollar on Tuesday due to a muted trend in domestic equities and caution ahead of the outcome of the US presidential election this week, while this week’s Federal Reserve's monetary policy announcement also pressurised sentiments. Moreover, persistent foreign fund outflows and rising crude oil prices also dragged down the domestic currency. Foreign institutional investors were net sellers in the capital markets on Monday, as they offloaded shares worth Rs 4,329.79 crore, exchange data showed. Although, a steady dollar, growth in India's manufacturing sector and any intervention by the central bank have limited further weakness in rupee. India’s manufacturing sector showed promising signs of growth in October, with the HSBC Purchasing Managers' Index (PMI) climbing from September’s 56.5 to 57.5. 

The partially convertible currency is currently trading at 84.12, weaker by 1 paise from its previous close of 84.11 on Monday. The currency touched a high and low of 84.13 and 84.1150 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: