The Indian rupee weakened against the US dollar on Thursday due to increased demand of American currency from importers, despite strengthening expectations of a potential US Federal Reserve rate cut and Reserve Bank of India policy easing in December. However, firm domestic equities, fresh inflow of foreign funds and lower crude oil prices in the international market have limited further falls in rupee. Foreign institutional investors purchased equities worth Rs 4,778.03 crore on a net basis on Wednesday, exchange data showed.
The partially convertible currency is currently trading at 89.24, weaker by 2 paise from its previous close of 89.22 on Wednesday. The currency touched a high and low of 89.25 and 89.19 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: