SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Rupee turns weak ahead of FOMC meeting

17 Sep 2013 Evaluate

Rupee went through a very volatile trade on Tuesday, after making a weak start tailing the decline in other emerging market currencies, ahead of US Federal Reserve’s two days policy meeting which is expected to result in stimulus being scaled back. In latter trade the domestic currency made a good recovery, paring most of its early session losses on dollar selling by foreign banks. There were also hopes of good foreign inflows with recent RBI steps including relaxed terms on 3-5 year dollar deposits. However, towards the end the rupee once again turned weak on fresh demand from importers for the American currency. In the global markets, dollar remained under pressure against a basket of currencies ahead of the Federal Reserve meeting.

Finally the rupee ended at 63.39, weaker by 54 paise from its previous close of 62.85 on Monday. The currency touched a high and low of 63.70 and 62.40 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.37 and for Euro it stood at 84.59 on September 17, 2013. While, the RBI’s reference rate for the Yen stood at 63.93, the reference rate for the Great Britain Pound (GBP) stood at 100.8582. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

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:

×