SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee depreciates against dollar on Thursday

12 Dec 2024 Evaluate

Indian rupee depreciated against the U.S. dollar on Thursday dragged down by negative domestic equity markets and outflow of foreign funds. Traders paid no heed towards reports that India’s retail inflation based on Consumer Price Index (CPI) slowed down from a 14-month high of 6.21 percent in October 2024 to 5.48 percent in November 2024, as food prices cooled off. All India Consumer Food Price Index (CFPI) or food inflation for the month of November 2024 stood at 9.04 percent. Besides, India’s factory output growth measured in terms of the Index of Industrial Production (IIP) rose 3.5 percent in October 2024, up from 3.1 percent the previous month. On the global front, British pound was steady against the euro and the dollar on Thursday, with currency investors sitting tight before key central bank decisions. 

Finally, the rupee ended at 84.89 (Provisional), depreciated by 6 paise from its previous close of 84.83 on Wednesday. The currency touched a high and low of 84.89 and 84.84 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:

×